Click to play videoCitibank's Vikram Pandit has been named one of the worst CEOs in America. But Pandit is unfazed and is focused on turning Citibank around. Pandit outlined his plans in an exclusive interview with CNN's Matthew Chance.
CNN: You have been named the worst CEO. Have you considered stepping down?
Vikram Pandit: I have a job to do and haven't finished it. So I will keep doing it. We have gone through enormous change at Citi. New management team has been brought in to cleanup after the crisis and we have made progress, restored financial strength and restructured Citi.
CNN: Shouldn't you be held accountable for the massive investor losses?
Vikram Pandit: I hold myself accountable to restore Citi to its original position. I hold myself accountable to get Citi through this economy. The new management and the leadership team has come in with a lot of assets particularly concentration on the consumer.
CNN: The government is on a lookout for a possible successor to your position?
Vikram Pandit: Speculation is natural when we have made losses of the kind that you have mentioned. This management team was brought in to address these issues at Citi.
CNN: Will Citi return the bailout money?
Vikram Pandit: $ 45 billion has been invested in Citi and much more has been invested in other banks. All due to what happened in the financial markets post Lehman Brothers and the lack of confidence they created. A lot of programmes have been put in place to support banks. Our goal is to repay every dollar as fast as possible with a great rate of return. Meanwhile we will keep paying the government $3.5 billion in dividend.
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