The CEO of Citigroup announced a $8 billion write-down for the company because of bad loans.This announcement followed a previous announcement of a $5 billion write-down three quarters earlier.The board asked him to step down.
A) The board does not have the authority to remove a CEO.
B) The shareholders must approve the removal of a CEO.
C) The CEO is elected by the shareholders.
D) none of the above
Correct Answer:
Verified
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