On November 22, 2009
AIG: Help Wanted, But Will Anyone Apply?
Help Wanted: If you have what it takes to rescue a nearly bankrupt insurer with high turnover, curtail the turmoil in the executive suite and institute a repayment plan for $83 billion in debt, then you could be the right person for this job. Citing “sources familiar,” the Wall Street Journal reported yesterday that the U.S. Treasury, which owns 80 percent of American International Group, hired an executive search firm to “seek out possible candidates that it may appoint to AIG’s board.” But there are several stumbling blocks that might discourage nominees. It seems that more people want out of the company than in. And one of the current trustees, El Paso Corp. CEO Douglas Foshee, who represents the taxpayer’s…
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