Unlike Mozilo, Charles Prince said he was not cashing his stock in in the recent years.
Former Treasury head and Citigroup director Robert Rubin, now chairman, doesn't want Charles Prince's old job.
Charles Prince, his handpicked successor, focused on raising market share, said people who worked with him.
Only days earlier Charles Prince, boss of Citigroup, had paid a fence-mending visit to Carlo Ciampi, Italy's president.
"Huge write-downs caused the ouster of Stan O'Neal and Charles Prince, " speculated Peter Cardillo, a market analyst at Avalon Partners.
My guess is that in order to ensure his enduring legacy Weill chose a weak successor in general counsel Charles Prince.
He already cut the dividend once since replacing ousted chief Charles Prince in December, and might do so again, some analysts say.
Not surprisingly, this has cost Charles Prince his job as chief executive officer, a move many have been anticipating all weekend.
Mr. CHARLES PRINCE (Former CEO, Citigroup): I own about a million shares.
Stanley O'Neal of Merrill Lynch, Charles Prince of Citigroup, and Peter Wuffli at UBS have all been pushed out over their firms' subprime-related losses.
Other banks have also been hit, and Merrill Lynch's boss Stan O'Neal and Citigroup's chief executive Charles Prince have both left their posts recently.
Citigroup (nyse: C - news - people )'s Charles Prince, under pressure for months because of the bank's lackluster performance, quit Sunday.
In the case of Citigroup, there is the small matter of transition, now that Mr Weill has been replaced as chief executive by Charles Prince.
Chief Executive Charles Prince has promised to fix it this year, saying today that the company was "making very good progress" toward getting to positive operating leverage.
But other embattled chief executives, including James Cayne of Bear Stearns and Charles Prince of Citigroup, have survived, for now, despite big shake-ups in their firms' bond trading divisions.
At Citi the expense problem has gotten so out of hand that Chief Executive Charles Prince has appointed an executive whose primary mission is to hunt down cost savings.
It is perhaps a sign of the times that Charles Prince, who has been with Citigroup or its predecessor for more than 20 years, is trained as a lawyer.
As soon as Chief Executive VikramPanditVikram Pandit took over the bank from Charles Prince, he has been working to cut the company's costs and cleanse the company of its credit-related problems.
It has been among the worst battered of all the banks, and its former management, led by the ousted Charles Prince, has been sharply criticized for allowing risks to run out of control.
As soon as Chief Executive Vikram Pandit took over the bank from Charles Prince, he has been working to cut the company's costs and cleanse the company of its credit-related problems.
That happened to be one day before former Citi Chief Executive Charles Prince resigned amid the subprime lending crisis that would quickly engulf Citi, Merrill Lynch, Lehman Brothers and the rest of Wall Street.
As soon as its new chief executive VikramPanditVikram Pandit took over the bank from Charles Prince, he has been working to cut the company's costs and cleanse the company of its credit-related problems.
Citigroup 's (nyse: C - news - people ) Charles Prince , who has been under pressure for months because of the bank's lackluster performance, is set to become the latest casualty.
As soon as its new chief executive Vikram Pandit took over the bank from Charles Prince, he has been working to cut the company's costs and cleanse the company of its credit-related problems.
Its new, pithy brand name, Citi, "speaks to our exciting future as a highly concentrated, responsive and profitable global leader in financial services, " said Chief Executive Charles Prince in a statement Tuesday announcing the plan.
On Friday, the House of Representatives' watchdog committee corralled former Citigroup CEO Charles Prince, former Merrill Lynch CEO Stanley O'Neal and Countrywide Financial CEO Angelo Mozilo to find out whether executives should be compensated handsomely when their companies fare poorly.
But other embattled chief executives, including James Cayne of Bear Stearns (nyse: BSC - news - people ) and Charles Prince of Citigroup (nyse: C - news - people ), have survived, for now, despite big shake-ups in their firms' bond trading divisions.
Vikram Pandit , Citigroup's (nyse: C - news - people ) new chief executive, is calling these "non-core" or "legacy" assets, and it's easy to conclude that he means all of the junk accumulated over the last few years of aggressive expansion into leveraged lending and structured finance at the direction of his predecessor, Charles Prince .
Stanley (nyse: SXE - news - people ) O'Neal of Merrill Lynch (nyse: MER - news - people ), Charles Prince of Citigroup (nyse: C - news - people ), and Peter Wuffli at UBS (nyse: UBS - news - people ) have all been pushed out over their firms' subprime-related losses.
With Citi coming off the most disastrous period in the company's history, shareholders had better hope that when Pandit starts talking, he turns out to be more like JPMorgan Chase (nyse: JPM - news - people ) chief Dimon--a master of the expectations game--and not Charles Prince , Pandit's predecessor at the helm of Citigroup (nyse: C - news - people ).
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