Heard there's an internal investigation ongoing which already led to the layoff of Eric Zheng (China CEO) in 2018, John Carey (China Chairman) in 2019, Chris Townsend in 2020, and is targeting Kevin Hogan or even higher (PZ? Can they do it internally?). Not sure what it is for. Any insiders?
11 replies (most recent on top)
BD won't be the Chairman starting 2022, PZ can get rid of BD's team as he wishes then, and I'm sure he's gonna do it, otherwise whom to blame for the downward trend? Himself?
Anyone paying attention knows that AIG cycles through Executive Management Teams every 3-5 years. They already know who will replace PZ when the time comes.
The company is in a death spiral now: deteriorating business results forcing out capable executives, incapable executives leading to worse business results...
And re the comment on tomorrow, you're right, but "tomorrow" is still too close so they're talking about AIG 200 now lol
It’s a “Tale of two Petes”.....The first Pete was clearly better, can’t believe I am saying that! Plus the stock was in the 60’s when he was here, can’t even get to 50s now and the Market is up like 50% since they got rid of PH....stock should at least be in the 90s, it is half that with BD and PZ....
Townsend etc. have to make way for PZ's guys. BD literally replaced all PH's top people, now it's PZ's turn, of course he wouldn't be too aggressive before BD steps down from the Board. I thought PH was the worst CEO since Greenberg... I was wrong...
Townsend agreed to disagree with PZ as he was hired by BD and they never saw eye to eye. Townsend wanted the CEO job always had. No investigation, others like EZ were some time ago and absolutely no connection.
I agree it wouldn't touch PZ even if there is an internal investigation, not Hogan either, but Townsend was probably just a scapegoat, I'd not be surprised to know anyone above evp level at this company actually involved in white collar crimes...
Are you high? There is no internal investigation, PZ just got promotion and we likely be there a good 3 plus years as the Board is terrible
Talking about reinsurance... wondering what happened when Jeremy Johnson and George Stratts left Lexington in 6 months.
Well, based on what I know about the company, if it's an internal investigation it probably stopped at Townsend's level already, not likely to Hogan, and not possible to PZ or BD unless it's from external (SEC etc.), and that's gonna be a huge deal.
And Hogan is in charge of Life, Townsend was on P&C and didn't report to him. If it's about pricing and related to China, more likely reinsurance guys are involved, not Life.
Townsend did get let go (or allowed to resign). Several others in his organization were shown the door as well. I kind of remember it had to do with pricing, but not sure.