How long before KH gets ousted? My guess is by year end....
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They kept DD around to negotiate the sale of Fortitude, which is now done. I think DD might be safe because of the investment engine required for Life; if it were just P&C, he would be gone in a heartbeat....BD never had an internal manager at ACE..........
So sad, KH is the last of the old guard with any integrity and respect, something BD and PZ don't have
@2goe+162GM87I Agreed - NO WAY DD builds up a new third party asset manager for AIG just for fun..... he did it once and sold it to AIG for 10 Mill. Not again!
DD is much smarter than PZ, so he will stay for a bit unless some company wants to poach him and pay his buyout, or they wait for him to leave then make an offer
When will Doug Dachille start reporting to PZ?
Is Doug next to go?
@ikn+162GM87I Hey!; To some people, doing nothing, is doing something!! lol
A few post back... the company has been failing since it failed in 2008... it was propped up by Uncle Sam and on life support since...ugly truth ... the Executive branch eats high off the hog!
They have had ongoing organizational changes since the day BD came to AIG. What it means is do more RIF's and bring more of BD and PZ's buddies on and give them Senior Management jobs. They get contracts so it doesn't matter if the ship sinks. The make out one way or another. This is the greediest CEO and leadersjip that we have had. Such a shame because they are bringing this company down and it won't ever go back to the way it was even with new leadership.
That must be so insulting to KH. Didn’t they get the memo that his division is the only profitable one?
I want to know when BD is leaving. All he does now is sit in his mansion in Bermuda. He will probably leave after his bonus is paid out in 2021, why leave free money on the table.
Funny how everyone on this board knows what is coming next for KH. It is almost like this has happened a million times before at AIG!
copied from a prior post, this is spot on:
"Payroll isn't going down. Every 3 they RIF they hire in management at 500k per person. AIG200 is an accounting gimmick to create a charge against earnings then report better results because the cost is hitting against the charge instead of normal expense. It's a shell game. This post will disappear because management doesn't want the scam to be revealed."
KH will now report directly to PZ. Essentially, KH will be replaced by one of PZ's buddies in the near future and PZ can begin to loot financial services too.
For all us Rifd folks what was the announcement?
BD earns his money by buying corporate jets and flying around in them.
Oh, and yes he approves the RIFs.....
Yes, KH got screwed vs PZ and BD. They treated him like the rest of the employees
AIG 200 is a mess.
good point previous poster, he is laying off employees in a tough economy while hiring his friends and stealing millions. he is truly repulsive.
He sends like one email a month and reads from a teleprompter once a quarter while making $55,000 a day, yes a day plus incentives! Best job ever!!!!!!!!!!!
BD does nothing? Who do you think is driving the layoffs? He did the same thing at previous company. Downsize and outsource IT; make it look like the salary reduction is revenue, pay shareholders, collect millions.
He's protecting his health by sheltering in Bermuda.
lol, agree. KH is the only exec who knows how to make money, but he is not one of the good old boys and girls that PZ brought in so his days are numbered. Its sad if you look back at the exec compensation in the annual report. All of the BD gang got crazy sti bonuses and KH got the lowest even though his department actually makes money.
Begs another question: what the heck is BD doing to earn his $20M a year plus incentives? He literally does nothing!