No one is safe regardless of level.
5 replies (most recent on top)
The stock is in the dumps at around 38 per share from a high of 56 only about 8 weeks ago. They are writing less business in an economy that is doing quite nicely. They just announced they will take a 800 million dollar hit this quarter. They are laying off people all over the company. So when is the CEO going to be held accountable for the company's performance when has been in the dump since he took over. It used to be that AIG would buy you. Now you have to wonder will someone buy AIG but who would want them.
That depends on the earnings report. I predict more losses or lackluster earnings. The company is going nowhere. I question the competence of the AIG leadership. Wall St follows shake ups at the top. They want to see a steady hand running the ship. This ship is running aground.
CIO, CFO, and HR executive all out in under 6 months. Who's next?
Sankaran has only been CFO for 2 years! Lyons just came on board. AIG does everything for a reason. The CEO is responding to the current financial condition of the company, huge losses and drop in business. This is happening in a strong economy. What will happen if we go into a recession? I always liked Rob Schimick. He always made me feel confident on his conference calls right after the government bailout. A new CFO won't change the fundamentals or the future direction of the company. Sorry AIG if you are listening.
Rip Sid. He was the man, actually cared about his people