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Richard Parsons is stepping down as chairman of Citigroup Inc and is expected to be replaced by Michael O'Neill, the former chief executive of Bank of Hawaii Corp, the Wall Street Journal reported on its website on Friday.

Morgan Stanley’s chairman John Mack will step down as chairman and leave the board of directors at the end of 2011. The widely expected move brings an end to a storied Wall Street career for Mack. The North Carolina native was CEO of Morgan Stanley from 2005 to 2009. Current CEO James Gorman will take over the chairman’s role.

Yahoo Inc shareholder Daniel Loeb appealed to the company's co-founder Jerry Yang to fire Chairman Roy Bostock and several other directors to revive the Internet media company after years of poor performance.

Hewlett-Packard Co. shocked Wall Street Friday afternoon with the announcement that its chairman and chief executive, Mark Hurd, is resigning immediately in the wake of a sexual harassment investigation that revealed ethics issues.

General Motors Corp said on Tuesday that former chairman and chief executive of AT&T Inc Edward Whitacre will become chairman of the restructured automaker later this summer.

Shareholders stripped Kenneth D. Lewis of his chairman’s title in a vote that may mark the beginning of the end of his leadership at the embattled bank.