They're all the same. All they think about is how to line their own pockets. That's their one and only goal. Don't expect much to change. I wish I was wrong, but I believe that we're in for much of the same.
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@kf Would highly doubt there are accounting issues. We have terrible leadership but the underwriting turnaround and the financials are real and we are in a better place than many of our peers.
AIG was always on a mission to be sold. Clearly, that was the goal all along. PZ's departure is an indication that something obviously went astray. At this point it could be anything, but possibly something with the sale. What would concern me at this point, is it something more deep like accounting issues. Thing about it, if up for sale, DD takes place. Sure hope not, but anything is possible and nothing would surprise me.
Let’s not use PZ as the benchmark for all CEOs. PZ’s ask for $50m showed his true colors of his greed and his indiscretions showed him to be a man of lacking a moral compass (and thinking he could get away with it!)
I don't agree that CEOs are all the same, some are actually capable people that make the companies grow, without using the shareholders money in a spendingspree to hire all the golf friends, capable or not. Zaffino made the company grow 50% in the last years while the average growth in the sector was 200%, not exactly a great achievement. He slowly dismantled the company selling everything that made some profit and made it smaller and smaller, an easy target to be praied on. But who, in his right mind, would ever buy AIG nowadays?? One month ago Zaffino said " Company's not up for selling" and guess what? The next month he's no more the CEO, so I wonder if now AIG IT IS UP FOR SELLING. Still everyone wonder who would ever be so crazy in the market to buy us, but there is someone, someone that has a deep bond with the company and that was nominated directly by the founder himself, none other than the centenary Maurice Greenberg, who wants to regain the control of the company before leaving this world.... It's a personal matter and, if you think it this way, Chubb informal offer from his son makes total sense... Greenberg senior last wish is to see AIG becoming great again... If this strategy will improve the lives of us that work here are to be seen.
This is just a theory, I have no insights...But it makes sense.