AIG makes chairman’s rУle non-executive
Embattled US insurer American Cosmopolitan Group (AIG) has changed its bylaws to ensure that its chairman is barring.
The move comes one week after Harvey Golub, former American Voice boss, was named as non-executive chairman.
Golub replaces executive chairman Ed Liddy, who had held the roles of CEO and chairman.
Robert Benmosche, past chairman and CEO of MetLife Inc, has been appointed as CEO.
AIG’s corporate governance practices were recently in the stress after it paid executives huge bonuses despite the company being propped up by way of a $182.5 billion loan from the US government.
The faulty quarter of this year was the first profitable quarter for the tight, which is 80% owned by the US government, since 2007.
Even more:
- AIG bonuses halted at near US Treasury
- Latest AIG chief makes his mark
- US Funds penalises AIG over bonus payments
- AIG elects untrodden chairman
- AIG executives requite bonuses
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