Smart Moves: AIG Boots McKinsey and Cuts Convention Costs
American International Group’s newest CEO Robert Benmosche has been on the job slightly less than two months, one of which was allegedly spent sampling wines at his villa in Croatia. Nonetheless, he’s made two public relations moves that help the beleaguered insurer – both inside and outside the company. Bloomberg News says Benmosche has given consultant McKinsey & Co. its marching orders. One of the world’s best-known, but most arrogant business consultants, McKinsey got a mandate in March by then CEO Ed Liddy to dispose of most of the once-trillion-dollar AIG empire. That impractical plan, dubbed “Project Destiny,” was to be used by Liddy to accomplish this. Liddy is long gone, and Project Destiny is “going to become dusty,” Benmosche told…
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