The man who built the insurance behemoth talks with Maria Bartiromo about Sunday's coupA little more than three years ago, Hank Greenberg, the architect of the insurance giant AIG (AIG), stepped down amid investigations by the feds and then New York State Attorney General Eliot Spitzer. Greenberg was replaced as CEO by Martin Sullivan, one of his longtime lieutenants. In January, 2006, Robert Willumstad, former COO of Citigroup (C), became chairman. Last weekend, with AIG stock having lost more than half its value since October, Sullivan was ousted, and Willumstad took over CEO duties, too. AIG Director Stephen Bollenbach, reportedly backed by billionaire investor Eli Broad, was named lead director. According to an analysis by the Corporate Library, Sullivan will exit with a $68 million handshake. This morning, I talked with Greenberg about this dramatic turn of events.
MARIA BARTIROMO
Is Bob Willumstad up to the job?
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