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Business Briefs

Reported by Star-Bulletin staff & wire

Monday, February 28, 2000

Ernst & Young seeks Hawaii nominations

The accounting and consulting firm Ernst & Young LLP is seeking nominations of Hawaii-based entrepreneurs for its 14th annual Entrepreneur of the Year awards. Last year, 13 Hawaii entrepreneurs won awards in 11 categories.

Ernst & Young encourages business people to nominate themselves, in addition to accepting nominations from the businesses' suppliers, customers and others who work with them. Awards will go to those who have demonstrated excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and the community.

For more information call 535-6955. The deadline for nominations is April 7.

Citigroup's Reed to retire in April

NEW YORK -- Citigroup Inc.'s co-chairman and co-chief executive, John S. Reed, will retire in April, two years after the giant financial services company was created with the merger of Citicorp and the Travelers Group.

Sanford I. Weill, 66, who has shared the top post with Reed, 61, will become the sole chairman and CEO. Weill, however, also announced today that he planned to leave the company and will work with the board of directors to find a successor within two years.

While a handful of company executives will be jockeying for the top job, there is one notable exception. "I will not be CEO," said Robert Rubin, the former treasury secretary who joined the Citigroup executive suite in October. Rubin, who works in the office of the chairman with Reed and Weill, told reporters he wants to continue as chairman of the executive committee of Citigroup's board.