Citigroup elects James Flanagan as independent director
His nearly 40 years at PwC included service as Chief Operating Officer and Vice Chairman from 2014 to 2021.
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Rhea-AI Filing Summary
Citigroup Inc. (C) elected James Flanagan as an independent director, appointed him to its Audit Committee, and said his service began immediately. He will also be appointed to the board of Citibank, N.A. The board determined that he meets the director independence standards in Citigroup’s Corporate Governance Guidelines.
Flanagan spent nearly 40 years at PricewaterhouseCoopers LLP, including as Chief Operating Officer and Vice Chairman from 2014 to 2021. He will receive compensation under Citigroup’s non-employee director practices described in its 2026 proxy statement. Citigroup reported no family relationships between Flanagan and its officers or directors and no related-party transactions involving him and the company.
8-K Event Classification
Key Figures
Key Terms
director independence standards regulatory
non-employee director compensation practices financial
sell-side diligence financial
IPO readiness financial
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
(Exact name of registrant as specified in its charter)
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including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 formatted in Inline XBRL: See Exhibit 99.2
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
CITIGROUP INC.
Current Report on Form 8-K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 21, 2026, the Board of Directors (the Board) of Citigroup Inc. (Citigroup) elected James Flanagan as a director of Citigroup and appointed him to the Board’s Audit Committee. He will also be appointed a Board member of Citibank, N.A. Mr. Flanagan served in various roles at PricewaterhouseCoopers LLP, including serving as Chief Operating Officer and Vice Chairman from 2014 to 2021.
The Board determined that Mr. Flanagan is independent in accordance with the director independence standards established under Citigroup’s Corporate Governance Guidelines, which are intended to comply with the New York Stock Exchange corporate governance rules, and other applicable laws, rules, and regulations. There are no family relationships between Mr. Flanagan and any officer or other director of Citigroup or any related party transactions involving Mr. Flanagan and Citigroup. There is no arrangement or understanding between Mr. Flanagan and any other person pursuant to which he was selected as a director.
Mr. Flanagan will receive compensation as a non-employee director in accordance with Citigroup’s non-employee director compensation practices described in “Proposal 1: Election of Directors – Directors’ Compensation” of Citigroup’s Annual Proxy Statement filed with the U.S. Securities and Exchange Commission on April 2, 2026.
A copy of Citigroup’s press release relating to the election of Mr. Flanagan as a director is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | | |
99.1 | Citigroup Inc. Press Release dated October 21, 2026. | |
99.2 | Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date. | |
104 | The cover page of this Current Report on Form 8-K, formatted in Inline XBRL. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CITIGROUP INC. | ||
Dated: October 22, 2026 | ||
By: | /s/ Brent J. McIntosh | |
Brent J. McIntosh | ||
Chief Legal Officer & Corporate Secretary |
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Exhibit 99.1
For Immediate Release
Citigroup Inc. (NYSE: C)
October 21, 2026
CITI BOARD ELECTS JAMES FLANAGAN TO
BOARD OF DIRECTORS
New York, NY – Citi’s Board of Directors today announced that it has elected James (Jim) Flanagan as a new independent director, with service commencing immediately.
Citi Chair and CEO Jane Fraser said, “Throughout his career, Jim has helped organizations navigate change, strengthen performance and create long-term value, with a deep appreciation for the importance of putting clients at the center of every decision. At a time when the opportunities and challenges facing our industry are increasingly interconnected, Jim’s deep experience across risk, operations, technology and accounting will bring valuable perspective to our Board. We are delighted to welcome him to Citi.”
James Flanagan
Jim spent nearly 40 years at PricewaterhouseCoopers (PwC), rising from audit partner to regional and national practice leader before serving as Chief Operating Officer and Vice Chairman from 2014 to 2021. In this role, he was responsible for all aspects of the firm’s U.S. operations, including human resources, information technology, finance, real estate, and risk and regulatory matters, and he led significant operational changes and cost restructuring that drove substantial profitability improvements.
Earlier in his career, Jim led PwC’s U.S. Financial Services practice, a $4 billion business spanning audit, consulting, and tax services for banking, insurance, and asset management clients, successfully navigating the firm and its clients through the 2008 financial crisis while growing market share. He also built and led PwC’s Transaction Services practice, first in the Midwest and later nationally, becoming a recognized expert in sell-side diligence and establishing IPO readiness, valuation, and capital markets offerings.
Jim currently serves on the boards of Integer Holdings Corporation (NYSE: ITGR), a medical device contract development and manufacturing organization, where he is a
member of the Audit and Technology Strategy Committees, and Cyabra, Inc. (NASDAQ: CYAB), an AI-powered analytics company, where he chairs the Audit Committee and serves on the Compensation and Nominating and Governance Committees. He previously served as a board member and Audit Committee Chair of Belami Ecommerce from 2022 to 2025.
Jim holds a B.A. in Accounting from Long Island University and is a Certified Public Accountant. He is active in several charitable organizations, including Hockey Helps, Inc., which he founded, and the Ronald McDonald House, where he recently completed a term as Board Chairman.
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About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi |
LinkedIn: www.linkedin.com/company/citi |
YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
Media Contact
Sarah Lamothe: lamothes@citi.com
Investor Contact
Margo Pilic: investorrelations@citi.com
Exhibit 99.2 | |||
Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934: | |||
Title of each class | Ticker | Title for iXBRL | Name of each |
Common Stock, par value $.01 per share | |||
Depositary Shares, each representing a 1/1,000th interest in a share of 6.250% Noncumulative Preferred Stock, Series II | |||
7.625% Trust Preferred Securities of Citigroup Capital III (and registrant’s guaranty with respect thereto) | |||
7.875% Fixed Rate / Floating Rate Trust Preferred Securities (TruPS®) of Citigroup Capital XIII (and registrant’s guaranty with respect thereto) | |||
Medium-Term Senior Notes, Series N, Floating Rate Notes Due April 26, 2028 of CGMHI (and registrant’s guaranty with respect thereto) | |||
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 15, 2028 of CGMHI (and registrant’s guaranty with respect thereto) | |||
Medium-Term Senior Notes, Series N, Floating Rate Notes Due October 6, 2028 of CGMHI (and registrant’s guaranty with respect thereto) | |||
Medium-Term Senior Notes, Series N, Floating Rate Notes Due March 21, 2029 of CGMHI (and registrant’s guaranty with respect thereto) | |||