AIG CEO Willumstad and Former Head Greenberg Meet
Newly appointed American International Group Inc. (AIG) CEO Robert Willumstad reported that he had a "positive" first meeting with former CEO Maurice "Hank" Greenberg on Thursday.
Willumstad, AIG chairman and a former Citigroup executive, took over as CEO at the world's largest insurer, replacing Martin Sullivan, who succeeded Greenberg in 2005. Sullivan stepped down last weekend after the company racked up record losses from bad mortgage bets and investors pushed for his ouster.
Willumstad said one of the first things he wanted to do in his new position was establish an "interactive" relationship with Greenberg, who ran the insurer for nearly four decades but has had a strained relationship with AIG since leaving.
Greenberg, through a spokesman, declined to comment on their discussions. Willumstad said only that the meeting was "positive."
Published on June 20, 2008
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