BUSINESS
05/10/2010 05:17 pm ET Updated May 25, 2011

Robert Joss: Citigroup Director To Make $350,000 For As Little As Three Weeks Work

May 10 (Bloomberg) -- Citigroup Inc. will pay director Robert Joss $350,000 for as little as three weeks of work amid criticism by shareholder-advisory firm Glass, Lewis & Co. that he lacks the independence needed to serve on the board.

Joss, a former Wells Fargo & Co. executive and Stanford University business-school dean who joined the board in July, will advise on projects "from time to time," Vice Chairman Lewis Kaden wrote in an agreement dated April 5, according to a filing on May 7. The annual consulting fee is for "a minimum of approximately three weeks," the filing said.

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