ValueAct Snowballed Citigroup CEO Mike Corbat’s Retirement

America’s banks have been handed a few lifelines this year, but their luck might be finally running out in a way that could have activists waiting at their doors. This week’s big news was a CNBC report that ValueAct Capital Partners may have set in motion the process by which Citigroup CEO Mike Corbat announced his retirement.Q2 2020 hedge fund letters, conferences and moreValueAct May Have Played A Role In Mike Corbat’s RetirementCNBC quoted a source close to ValueAct on the bank’s financial performance: “It’s unacceptable to fall short on your own numbers, which are cushioned numbers to begi…

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