2017考博英语阅读练习（28）
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Citigroup's board was locked in debate over its new leader yesterday, with no clear consensus over who would be tapped. Vikram S. Pandit, the former Morgan Stanley investment banker who joined Citigroup in July, remains the leading candidate, according to people briefed on the situation. But the search committee is still discussing other possibilities, depending on whether or not Robert E. Rubin would agree to stay on as chairman. No final decisions have been made, and not all of the directors have been persuaded that Mr. Pandit is the right choice.
The formal search for Citigroup's next chief executive began more than a month ago, after Charles O. Prince III resigned. But as its complexities mount, the search is beginning to resemble a game of multilevel chess. Citigroup's board is weighing the pros and cons of various leadership options, including the question of whether Mr. Pandit, 50, has enough operating experience to be its next chief. No one doubts his intellect, but some are concerned that he may not bring enough charisma or consumer banking knowledge to the job.
Mr. Rubin has lobbied hard for Mr. Pandit, but other board members are less convinced. If Citigroup's board chooses Mr. Pandit, the directors recognize that he will need a strong chairman to help him make the leap to his new job. That would mean persuading Mr. Rubin, who took on the chairman role only reluctantly last month, to stay on longer -- or recruiting another seasoned leader for that job.
Robert B. Willumstad, Citigroup's former operations chief, might be one contender for the chairman role. He understands the internal workings of the financial empire and brings some consumer banking experience. Yet it was unclear whether he would accept being chairman without being named chief executive as well. Mr. Willumstad, 62, is currently the chairman of the American International Group and the head of Brysam Global Partners, a private equity firm backed by JPMorgan Chase. Leaving A.I.G. would be no real hardship. Extricating himself from Brysam would require some negotiation, although Mr. Willumstad's contract with JPMorgan does allow for his departure. But associates say that Mr. Willumstad, who left Citigroup in July 2005 after being passed over in favor of Mr. Prince, seems to be enjoying the cushy confines of private equity. Negotiating his return to Citigroup might require handing him the top job.
If Mr. Pandit does not get the job, there is growing concern that he will leave the company to save face. News reports have all but anointed him as Citigroup's next leader. Deciding on someone else would leave Citigroup's board in a double bind. Not only did they pay an estimated $800 million for an underperforming hedge fund to bring Mr. Pandit to Citigroup, but if he leaves they might also lose the best person to run its investment bank.
Citigroup's board could also choose an outside candidate, who could bring a fresh perspective to the beleaguered bank. Several names have surfaced, including Michael A. Neal, the vice chairman of General Electric Capital's big commercial arm. Experts suggest that any outsider would need six months to a year to get up to speed on Citigroup's sprawling operations and contentious politics. Between the current market turbulence and the growing frustration of investors, some doubt that the company can afford to give an outside candidate that much time.
1. Which one of the following statements is TRUE of the candidates of Citigroup’s new leader?
[A] Vikram S. Pandit is the candidate who has won the trust of the majority of the search committee.
[B] Robert B. Willumstad will be the most competitive rival of Vikram S. Pandit.
[C] Michael A. Neal is also considered a powerful rival of Vikram S. Pandit.
[D] Robert B. Willumstad will only return to Citigroup when he is given the highest position.
2. The search for Citigroup’s next chief executive is compared to a game of multilevel chess because_____
[A] the search becomes very complex in the end.
[B] the search involves in different levels of the board.
[C] Citigroup’s board weighs the pros and cons of various leadership options.
[D] the search is conducted in several rounds of selection.
3. Robert B. Willumstad left Citigroup in July 2005 probably because_____
[A] he enjoyed the free environment of Brysam Global Partners.
[B] he resented the unequal competition with Mr. Prince by the Citigroup board.
[C] his lacked adequate strength in standing out of Citigroup’s contentious politics.
[D] he was defeated in the competition for the Citigroup leader.
4. The possible results of Mr. Pandit’s resignation if he loses this election are the following ones except_____
[A] Citigroup will have to pay a big sum to get Mr. Pandit back to Citigroup.
[B] Citigroup will suffer double losses.
[C] Citigroup will lose its potential best investment banker.
[D] Citigroup will play loose with its money.
5. According to the last paragraph, an outsider will not probably be an ideal candidate because_____
[A] an outsider is not familiar with the internal workings of Citigroup.
[B] an outsider could not be adapted to the complex environment of the Citigroup’s board.
[C] Citigroup has a deadline of making the final decision of the search.
[D] The present economic situation will not allow Citigroup to give much time to an outsider to familiarize the company.