It's no secret that the heads of Citigroup are eyeing John Thain as the successor to CEO Chuck Prince. As you may know Prince has come under fire for allowing Citigroup to undertake $3.3bn in losses since he has taken the job. Now Citigroup heads are currently conducting a review which will possibly choose Prince's replacement. Due to the fact that there is little leadership internally at Citigroup that has the qualifications nor international clout to take on such a task, they are seeking an outsider. People are saying that Citi is strongly considering John Thain as the successor. It is rumored that John Thain is eager for the job offer. However, the Citigroup job is not sealed for Thain. There are other possible candidates and allegedly some at Citigroup are keeping a close eye on just how John Thain is going to handle the rest of this quarter. More importantly they are keeping a close eye on how he will handle the possible Nymex merger. Now John Thain has got something to prove. This is good news for NYSE Euronext shareholders. It means that John Thain will be doing every single thing in his power to make sure that this quarter is phenomenal. He wants to prove to Citigroup without a single doubt that he is the answer to their problems. This could also mean an expedited NYSE NYMEX merger process. A merger of this magnitude is a perfect tool for Thain to impress Citigroup. John Thains future career depends on his performance. It is safe to say that Thain will do anything and everything humanly possible to make sure that NYSE Euronext is one of the most impressive companies ever. This era of NYX is his resume.
No comments:
Post a Comment