John S. Reed '61, SM '65, retired chairman and CEO of Citigroup and former chairman of the New York Stock Exchange, has succeeded Dana Mead, PhD '67, as chair of the MIT Corporation, the Institute's governing body.

Mead announced last fall that he would step down as Corporation chair at the end of June. Reed was elected at the June 4 Corporation meeting.

Born in Chicago in 1939, Reed was raised in Argentina and Brazil, where his father was an executive with Armour. He received joint SB and BA degrees from MIT and Washington & Jefferson College before serving for two years as an officer in the U.S. Army Corps of Engineers. Reed earned his master's degree in management from Sloan in 1965 and joined Citibank shortly thereafter.

Over the next 35 years, Reed ushered in many banking innovations in the United States and raised Citibank's profile in emerging Asian and Latin American markets. He became the bank's chairman and CEO in 1984 and led the organization until his retirement in 2000.

Reed became a life member of the MIT Corporation in 1985.