I don’t like the layoffs but what AIG needs most is stability. Replacing the CEO so many times has caused so much upheaval. Hasn’t worked. I’ve been in so many meetings where people were unwilling to take action because they were expecting change in leadership from the last CEO to this. Let’s give this CEO a real chance. It would be nice if we could replace CEOs without replacing the entire team, but apparently that doesn’t happen here.
10 replies (most recent on top)
They failed the yearly review. Like all company guidelines. They need to be let go.
They may be stuck with him.
How on earth one can justify $46 mil package for BD when company is not making profit?
BD will leave due to "health issues" after this quarter earnings report. CFO will be interim while the stock will bounce back and layoffs will be put on hold till new CEO comes on board.
Science fiction ?! we'll see.
For the company to make money the have to write new business. They are non renewing accounts in which AIG does not get all of their business. New business is way down and they laid off a bunch of underwriters in the Casuality devision. Here is the question with the way the company is going would you please your business with them.
what happen to the reinsurance. He gets paid millions, yes you can blame him
Can’t put it all on BD. He doesn’t have control over mother nature. The underperformance stemmed from the impact of huge catastrophe losses.
He should be let go for performance. Not layed off with a good package
If we were at war and the members of AIG “Executive Leadership Team” were generals; in light of the company’s performance since their appointments, they would all be relieved of their command, arrested, charged with military incompetence and executed.