Sandy Weill

Forbes - - CON­TENTS -

WALL STREET CON­GLOM­ER­A­TOR: SHEAR­SON, TRAV­EL­ERS, CIT­I­GROUP

Ire­tired as CEO of Cit­i­group in 2003 and re­tired as chair­man in 2006 be­cause I was afraid of mak­ing an abrupt change in my life. That turned out to be a mis­take, as I should have re­tired from both po­si­tions at the same time. When you’ve been the CEO of some­thing for a long time and you re­tire, you should re­ally re­tire. As chair­man I spoke to di­rec­tors about var­i­ous is­sues and things that I thought were wrong, and I felt I was some­times get­ting a re­sponse that they thought I wanted my old job as CEO back. I stress the im­por­tance of hav­ing another life out­side of busi­ness so that when it does come time to re­tire, the tran­si­tion is eas­ier. For me that other life has been in phi­lan­thropy for the last four decades.

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