I really need to figure out how to become an exec at AIG. Only company I know where you get 150% of target for losing billions. 🤣
https://www.aig.com/content/dam/aig/america-canada/us/documents/investor-relations/2021/aig-proxy-statement_2021.pdf
11 replies (most recent on top)
If anyone reads this site, why would anyone buy the stock?? It just seems like a sinking ship with a bunch of parasite Execs sucking the blood out till the company dies....
You need to be a JG 26 and a “made man/woman” by PZ, otherwise need to get out.....unless you have a lot of yrs of service and want a package and retire. But the greed is so high at the top, that they will probably change the severance package for most workers.....except of course for their golden parachutes!!!
"The 2020 annual total compensation of the median employee identified by AIG (as described below) was $70,926, and the 2020 annual total compensation of Mr. Duperreault, AIG’s Chief Executive Officer during 2020, was $18,810,373. Accordingly, AIG’s estimated 2020 pay ratio was 1 to 265."
Glad to know with all of the RIF's that the pay ratio of average worker pay compared to CEO pay went from really bad to....still really bad (was like 465 to 1). Glad to know our CEO is working hard losing the company money and still gets paid roughly 265 times my salary. Nepotism at its finest.
Pirate Petey looting the company for millions...
I love that their "financial" goals are based on the Accident Year Loss Ratio (as adjusted). So basically they will never get penalized for being stupid with CATs.
This group is great at 3 things. Patting themselves on the back, riffing employees and making ridiculous excuses to justify their disproportional bonuses.
In that order and not very effective at anything else.
LOL at this footnote. Brian "declined" the extra 1.8M in STI the board wanted to give him for "successfully transitioning to PZ." What a hero!
In light of AIG’s TSR relative to compensation peers in 2020, the CMRC and Mr. Duperreault determined that (i) the Business Performance Score applied to Mr. Duperreault’s 2020 STI award should be 100%; and (ii) the Chief Executive Officer’s 2020 STI award should be paid at target, notwithstanding AIG’s successful navigation of the unprecedented COVID-19 crisis and Mr. Duperreault’s efforts in executing a well-coordinated Chief Executive Officer succession process, resulting in an Individual Performance Score of 140%.
totally agree, you lose all credibility with your team and no amount of corporate cheerleading can overcome that........
its so frustrating as a manager to go to your team and say you had a fantastic year, did everything asked of you. you were above and beyond. because you worked so hard to exceed your goals, nights and weekends, AIG will give you slightly, very slightly over 100% of your bonus which equates to very little difference in overall pay. you also will get a slight cost of living increase that doesn't even keep up with inflation and you are not eligible for the executive lti.
then you see these clowns give themselves 200% sti last year and 150% sti this year which equates to millions and millions of dollars on top of their lti. this would be tolerable if their performance actually reflected their pay. but when you have been in power for 4 years and the stock is still well below the value it was when you became ceo, while the stock market is at all time highs, and then you decide to reward yourself with a huge "performance bonus"? it is a slap in the face to every other employee.
but wait there's more. you also rif hundreds of people that support my team in IT so you can loot more money from accenture. wow, what a corrupt group of woke executives that tries to tell me how i should live my life. F you! look in the mirror you self righteous scum.
don't try to give an extra day off to make it okay. its not okay. the executive team and the board are corrupt, spineless and utter failures.
It’s called nepotism. He’s the godson of the CEO
Ask PZ the recipe