Gary Crittenden
Encyclopedia
Gary L. Crittenden is an American
financial manager
formerly employed as the chairman of Citi Holdings, a unit of Citigroup
, and serving on the boards of Staples Inc., Ryerson, Inc.
, TJX Companies
, and Utah Capital Investment Corp. From March 2007 to March 2009, he was employed as the Chief Financial Officer
of Citigroup
.
(BYU), before and after he took a two year hiatus to serve a mission for The Church of Jesus Christ of Latter-day Saints in Germany
. During his mission, he was involved in a life-threatening accident, falling into a deep well in the dead of winter after falling through a layer of ice and being completely submerged in the ice-cold water. He emerged despite being weighed down by a suit and trench coat. After his mission, he graduated from BYU's Marriott School of Management
with a Bachelor of Science
degree in management
in 1976 and went on to earn an MBA
from Harvard Business School
in 1979.
Continuing to serve his church in adulthood, Crittenden has served as a bishop, stake president, and area seventy. In 2009 he moved from New Canaan, CT to Salt Lake City, UT.
. He was the CFO of Sears Roebuck and Company from 1997 and 1998. He then served as the CFO of Monsanto Company from 1998 to 2000. Prior to joining Citigroup, Crittenden was Executive Vice President and Chief Financial Officer (CFO) of American Express
, as well as the head of the company's Global Network Services division. At American Express, he is credited with an ambitious re-engineering effort as well as a Corporate Portfolio Management effort which aimed to optimize the enterprise's resource allocation. He was also credited with the successful evacuation of more than 3,000 Manhattan employees during the September 11 attacks in New York City.
In the book, "The Trillion Dollar Meltdown," author Charles R. Morris says "Gary Crittenden, Citigroup CFO, may have been the first to tell analysts the truth [about the subprime writedowns in late 2007]. At a November analysts' call, he was asked if he would confirm the truth that the writedowns were finally over. He said he could give no such assurances. His valuations of the complex instruments involved, he said, were just a 'reasonable stab' and no more indicative of 'where we are going to come out at the end of the quarter than where we would be two weeks from now.'
Citigroup
reported that Crittenden earned a salary of $500,000, and a total compensation of $12.2 million in 2008. He has previously served on the boards of Staples Inc., Ryerson, Inc.
, and TJX Companies
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
financial manager
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
formerly employed as the chairman of Citi Holdings, a unit of Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
, and serving on the boards of Staples Inc., Ryerson, Inc.
Ryerson, Inc.
Ryerson, Inc. is a metals distributor and processor founded in 1842. A subsidiary of Inland Steel until 1996, it became an independent company in 1999 as Ryerson Tull, Inc. The company adopted its current name in 2006 and is headquartered in Chicago, Illinois...
, TJX Companies
TJX Companies
The TJX Companies, Incorporated , is the largest international apparel and home fashions off-price department store chain in the United States. Based in Framingham, Massachusetts, the company originally evolved from the Zayre discount department store chain, founded in 1956, which opened its first...
, and Utah Capital Investment Corp. From March 2007 to March 2009, he was employed as the Chief Financial Officer
Chief financial officer
The chief financial officer or Chief financial and operating officer is a corporate officer primarily responsible for managing the financial risks of the corporation. This officer is also responsible for financial planning and record-keeping, as well as financial reporting to higher management...
of Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
.
Education and personal life
Crittenden attended Brigham Young UniversityBrigham Young University
Brigham Young University is a private university located in Provo, Utah. It is owned and operated by The Church of Jesus Christ of Latter-day Saints , and is the United States' largest religious university and third-largest private university.Approximately 98% of the university's 34,000 students...
(BYU), before and after he took a two year hiatus to serve a mission for The Church of Jesus Christ of Latter-day Saints in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. During his mission, he was involved in a life-threatening accident, falling into a deep well in the dead of winter after falling through a layer of ice and being completely submerged in the ice-cold water. He emerged despite being weighed down by a suit and trench coat. After his mission, he graduated from BYU's Marriott School of Management
Marriott School of Management
The Marriott School of Management is a business school located in Provo, Utah at Brigham Young University , a private university in the United States owned by The Church of Jesus Christ of Latter-day Saints...
with a Bachelor of Science
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
degree in management
Management
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...
in 1976 and went on to earn an MBA
Master of Business Administration
The Master of Business Administration is a :master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out...
from Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
in 1979.
Continuing to serve his church in adulthood, Crittenden has served as a bishop, stake president, and area seventy. In 2009 he moved from New Canaan, CT to Salt Lake City, UT.
Professional life
Crittenden began his career as a consultant at Bain and Company where he worked on various strategic projects in the US and in GermanyGermany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. He was the CFO of Sears Roebuck and Company from 1997 and 1998. He then served as the CFO of Monsanto Company from 1998 to 2000. Prior to joining Citigroup, Crittenden was Executive Vice President and Chief Financial Officer (CFO) of American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
, as well as the head of the company's Global Network Services division. At American Express, he is credited with an ambitious re-engineering effort as well as a Corporate Portfolio Management effort which aimed to optimize the enterprise's resource allocation. He was also credited with the successful evacuation of more than 3,000 Manhattan employees during the September 11 attacks in New York City.
In the book, "The Trillion Dollar Meltdown," author Charles R. Morris says "Gary Crittenden, Citigroup CFO, may have been the first to tell analysts the truth [about the subprime writedowns in late 2007]. At a November analysts' call, he was asked if he would confirm the truth that the writedowns were finally over. He said he could give no such assurances. His valuations of the complex instruments involved, he said, were just a 'reasonable stab' and no more indicative of 'where we are going to come out at the end of the quarter than where we would be two weeks from now.'
Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
reported that Crittenden earned a salary of $500,000, and a total compensation of $12.2 million in 2008. He has previously served on the boards of Staples Inc., Ryerson, Inc.
Ryerson, Inc.
Ryerson, Inc. is a metals distributor and processor founded in 1842. A subsidiary of Inland Steel until 1996, it became an independent company in 1999 as Ryerson Tull, Inc. The company adopted its current name in 2006 and is headquartered in Chicago, Illinois...
, and TJX Companies
TJX Companies
The TJX Companies, Incorporated , is the largest international apparel and home fashions off-price department store chain in the United States. Based in Framingham, Massachusetts, the company originally evolved from the Zayre discount department store chain, founded in 1956, which opened its first...
.