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Posts Tagged ‘Vikram Pandit’

Conflicting Reporting from CNBC’s Cramer, Bartiromo Over Citigroup CEO Exit

The big business news today is the departure of Citigroup CEO Vikram Pandit. CNBC went into high gear when the news came via a press release just after 8am.

Jim Cramer, in the 10am hour of “Squawk on the Street” reported what sources told him: “From a very high level source, he was forced out last night. Board didn’t want him anymore. Board felt that he had done everything that they’d wanted him to do. He was forced out, is my understanding.”

But two hours later, Maria Bartiromo called in to “Power Lunch” to report on a conversation she’d just had with Pandit. And, naturally, his reasoning is different:

“First of all, he’s saying this was his decision,” Bartiromo said. “He said it was time after five years of accomplishing what he set out to do. He said he’s been thinking about this for some time and the board was always ready for this eventuality.”

Two of CNBC’s biggest personalities, reporting two very different versions of the same story.

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The Ticker: Minds, Matthews, Moxie…

> CNBC’s Maria Bartiromo hosts “Meeting of the Minds: The Future of Capitalism” tonight at 9pmET. The roundtable features former GE Chairman Jack Welch, Citi CEO Vikram Pandit, and Mark Morial, President and CEO of the National Urban League.

> FishbowlDC’s Matt Dornic went to the Michael Smerconish book party the other night where he got another “I’m not running for the Senate” from MSNBC’s Chris Matthews. • Read…

> FBN’s Liz Claman‘s got Twitter moxie: Fox Business taking the full Obama/Netanyahu news conference. Global, crucial, newsmaking. Other biz networks r ignoring. NOT US. Then later – The news conference is almost done, then we’ll be back on. GREAT guests coming up in both 2:30pET and 3pET. Hang in there with us.