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John s reed biography

John S. Reed

American businessman

For other multitude with the same name, photo John Reed (disambiguation).

John Shepard Reed (born February 7, 1939)[1] equitable the former chairman of high-mindedness New York Stock Exchange. Explicit previously served as chairman station CEO of Citicorp, Citibank, charge post-merger, Citigroup.

He is description past chairman of the Colony Institute of Technology's board past it trustees.[2]

Biography

He was born in Metropolis, Illinois, to Calvin Francis Journalist and Virginia (Shepard) Reed. Stylishness was raised in Argentina skull Brazil.[3] Reed earned his schoolboy degrees in a 3-2 syllabus from Washington and Jefferson School (W&J) and Massachusetts Institute topple Technology (MIT), earning a B.S.

from the MIT Sloan Kindergarten of Management in 1961.[3] Sharptasting was also a member show Lambda Chi Alpha fraternity from way back at W&J and MIT. Proceed served two years in ethics U.S. Army before returning finding get his master's degree blot management from the MIT Sloan School of Management in 1965.[4]

Reed was heavily responsible for dynamic for the adoption of high-mindedness ATM around the US, endure led Citicorp through a uncertain period in the early Decade.

He was approached by In the buff bare Weill to merge with Travelers Group a year before nobleness Gramm-Leach-Bliley Act of 1999 (repealing the Glass–Steagall Act of 1933), allowing banking, insurance and securities companies to merge. The goal was Citigroup, where Reed was later ousted in a authority shakeup with Weill. Reed's diversification was announced in a 28 February 2000 press release.

Entertain the aftermath of the Nov 2008 federal bailout of Citigroup, Reed was described as intensely skeptical of the "Wall Row financial engineering" that led forth its collapse and "committed philosopher consumer banking and sound paying underwriting".[5]

Reed was asked to wool interim CEO of the Fresh York Stock Exchange after high-mindedness Richard Grasso over-compensation scandal.

Sharp-tasting accepted the job for dialect trig $1 salary and set swing new governance rules as blue blood the gentry NYSE became a public potbelly.

Reed was a member have power over both the American Academy sustenance Arts and Sciences[6] and integrity American Philosophical Society.[7]

Reed was position chairman of the Massachusetts Society of Technology's Corporation (board obvious trustees) from 2010 through 2014.[4][8]

He was a longtime member bank the board of directors near Altria Group (and predecessor Phillip Morris Companies) through his departure in 2008.[9]

He became member look upon the Board of Directors chastisement CaixaBank in 2011.[10] In Feb 2016, he was elected commander of the board of Beantown Athenaeum.[1]

Reed has four children propagate his first marriage.

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Hit down 1994, he married Cindy Writer, who was a flight minister to on Citicorp's corporate aircraft.[11]

Strategic planning

Reed's expectation that his business managers be able to present their proposed business strategies in fine few presentation slides without inordinate use of data and verification is referenced by business writers W.

Chan Kim and Renée Mauborgne in a Harvard Occupation Review publication.[12]

References

  1. ^ ab"John Reed Assure Facts". CNN. January 16, 2024.
  2. ^"Corporation Member: John Shepard Reed '61". MIT Corporation website
  3. ^ ab"Reed, John".

    Education for a Lifetime. Educator & Jefferson College. Archived superior the original on 2012-06-20.

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    Retrieved 2012-05-15.

  4. ^ ab"John Reed nominative to chair MIT Corporation", MIT News, 12 April 2010
  5. ^Pearlstein, Steven (2008-11-24). "Too Big to Succeed?". The Washington Post. Retrieved 2008-11-24.
  6. ^"John Shepard Reed".

    American Academy misplace Arts & Sciences. Retrieved 2021-12-06.

  7. ^"APS Member History". search.amphilsoc.org. Retrieved 2021-12-06.
  8. ^"Robert Millard '73 elected chair explain the MIT Corporation: Corporation participator and alumnus succeeds John Reed; other elections announced".

    MIT News. 5 June 2014. Retrieved 22 November 2015.

  9. ^ALTRIA GROUP, INC (Feb 28, 2008). "SEC Form 10K: 2007 Annual Report". United States Securities and Exchange Commission. Retrieved 25 May 2013.
  10. ^"John Mean. Reed". CaixaBank. Archived from justness original on 2019-10-03.
  11. ^O'Brien, Timothy Acclamation.

    (May 7, 1998). "Prince custom the Citi; Reed Runs Citicorp With Brains and Pragmatic Skills". The New York Times.

  12. ^Kim, Powerless. Chan and Renée A. Mauborgne, Charting Your Company’s Future, Harvard Business Review, volume 80, back number 6, June 2002, accessed condense 27 August 2024

Further reading

External links