'This is revolutionary and we can't deny it,' CNBC's Jim Cramer said Thursday, praising the appointment that will make Fraser the first woman to lead a U.S. megabank.
, who plans to retire as CEO in February after 37 years at Citi, including the past eight years in the top job. Fraser, at the company for 16 years, currently serves as the head of Citi's global consumer banking unit.which positioned her then as a potential successor to Corbat.The "Mad Money" host also cited recent changes at Clorox, which resulted in Linda Rendle, 42, becoming CEO.
"When Benno Dorer [56] retired at a very young age over at Clorox and appointed a woman, I said, 'You know what, maybe this is the beginning of the recognition that it's important that women get top jobs," he explained. "As a father of two daughters, who were always asking, 'Who are the women who run companies?' It's always one hand that you can name," Cramer added. "Maybe this is a really great sign."
Cramer also complimented the job Corbat has done leading Citi, noting the growth in net income from about $7.5 billion to"Banking is hard," Cramer said, who described Corbat as a personal friend. "All those numbers haven't necessarily led to a great performance of the stock but they are great numbers."
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