Citigroup cut CEO Corbat's pay by 10 pct in 2014
March 18 (Reuters) - Citigroup Inc cut its chief executive Michael Corbat's annual compensation by 10.3 percent in 2014, citing high legal expenses and the company's failure to win regulatory approval for its capital plan last year.
Corbat's total pay for 2014 was $13 million, down from $14.5 million in 2013, according to the compensation approved by Citi's board.
Corbat received compensation of $14.5 million in 2014, down from $17.6 million the year before, under a format prescribed by the U.S. Securities and Exchange Commission. (Reporting by Avik Das in Bengaluru and David Henry in New York; Editing by Simon Jennings)
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