A Shareholder Revolt at Citigroup? April 18, 2012, 2:32 pm When I walked into work this morning, I found this anonymous message on my voicemail. The call, of course, was referring to the fact that Citigroup's shareholders voted down CEO Vikram Pandit's $14.9 million pay package for 2011. The caller was wrong to refer to Pandit as the chairman. True, the vote was nonbinding - the result of Dodd-Frank, which calls for shareholder votes on pay packages - but it has clearly shaken Citi, which announced that it would meet with shareholder groups to hear their complaints. Their main gripe is that Pandit's pay is not linked strongly enough to performance. But the main reason I'm posting this reader's short response is that I think she may well be on to something: Hello, I just wanted to make a comment. I'm not going to give you my name. I think that this a denial of benefits to the Chairman of Citicorp. It's going to set off a voter revolt. A shareholder revolt. I'm about to vote my proxies and I'm going to vote against everything they want. Not necessarily the directors, but certainly any approval of pay. They all get too much money. And they should put the expense accounts on the proxies too.