Tag Archives: Hank Greenberg
We finally saw one yesterday in American International Group (NYSE: AIG). After sinking to a new 52-week low in the first few minutes of trading, AIG stock roared higher (up 2.5% on the day) on triple its average daily volume.
A lot of folks seem to be blowing their cool in the debate over the reinsurance “scandal” at American International Group (NYSE: AIG). Not least the rating agencies. Fitch, the quickest jackrabbit out of the box, downgraded the giant insurer to AA+ (still the agency’s second-highest rank) after AIG’s board kicked CEO Hank Greenberg upstairs as “nonexecutive chairman” and forced CFO Howard I. Smith to go on “leave.”
It looks as if the regulatory squabbles at American International Group (NYSE: AIG) are about to claim a big victim. Today’s Wall Street Journal says that AIG’s board met over the weekend to hammer out a retirement deal for 79-year-old Chairman Maurice R. “Hank” Greenberg.