Dow (DOW) CEO Steps Down from Citi (C) Board

Citigroup (NYSE:C) was told by Dow Chemical (NYSE:DOW) CEO Andrew Liveris that he would not stand for re-election to its board of directors, according to a regulatory filing.

Liveris let Chairman Dick Parsons on February 25 that he wouldn't be standing for re-election again at the annual meeting of the giant bank on April 21.

No reason was given as to the why Liveris, who is also on the board of IBM (NYSE:IBM), is not seeking to remain on the board.

Liveris has been on the board of Citigroup since September 20, 2005.