John Shepard Reed
Chairman Emeritus of the MIT Corporation
John S. Reed attended Washington and Jefferson College and the Massachusetts Institute of Technology where, in 1961 under a joint degree program, he earned the BA and BS degrees. Mr. Reed worked briefly for the Goodyear Tire & Rubber Company of Akron, OH, before entering the US Army where he served from 1962 to 1964 as a Lieutenant in the Corps of Engineers, with service in Korea in the 45th Engineer Group, 8th US Army. Shortly after receiving his degree from the Sloan School, Reed was recruited by Citibank/Citicorp where he quickly moved up the ranks.
During his 35 years at Citibank, Reed was central to modernizing the back office and creating the company's global consumer effort. He ran the Operating Group and Consumer Group before becoming Chairman in 1984. He led the company during the cross-border debt crisis of the 1980's, and the Real Estate problems of the early 1990's. In 1998, Citicorp merged with the Travelers Corporation to form Citigroup, which he co-led until his retirement in 2000. In 2003, after an upheaval over senior executive compensation, Mr. Reed was asked to take over the reins of the New York Stock Exchange. Working for just a $1 salary, he served as NYSE Chairman from September 2003 until April 2005, during which time he helped put the crisis behind the institution, established new governance procedures, and brought in a successor. More recently, Reed has voiced support for reforms intended to safeguard America's financial system. In June 2010, he was elected to serve as Chairman of the Corporation of MIT.