I make no comment about the removal of Martin Sullivan, that is a matter for the Board, although his actions since he became CEO were correct, timely and moderate and he should be given credit for those.
The new appointment is a step back in good governance as we have gone back to a unified Chairman and CEO in the same hands.
Onésimo Alvarez-Moro
See article:
American International Group (AIG), which has suffered record losses from the sub-prime crisis, has fired its chief executive Martin Sullivan.
The world's largest insurer named former Citigroup banker Robert Willumstad as its new CEO.
Mr Sullivan is the latest Wall Street boss to lose his job in the wake of the collapse of the US mortgage market and the global credit crunch.
See full Article.
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