Sorry Citi, but Dick Parsons has a private equity career to run

Citigroup's Chairman Richard Parsons told the board that he will split his time between Citigroup (C) and Providence Equity Partners, a private equity firm. Is this the right time to be changing his focus just as Citi tries to climb out of its deep hole?

Citi is not ready for prime time if it's still raising funds using the FDIC's bond guarantee facility. Why would Parsons shift his focus just when Citi is in negotiations with the government to start weaning itself from its help?