AIG’s C-suite faced a reckoning at the end of 2015 when four top executives left and CFO David Herzog retired. The management shakeup highlighted the tensions between the firm and its investors, including activist Carl Icahn, and the company’s desire to make big changes to mollify shareholders. Fast forward to 2017 and AIG finds itself with a new CEO, Brian Duperreault, a former employee who promises to return the company to growth rather than break it up. Duperreault replaced Peter Hancock, who abruptly resigned in March after shareholders lost faith in his turnaround effort.
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A successor has yet to be named.
Funding will likely fund more acquisitions, CEO says.
Peter Hancock, however, will still receive a total of nearly $9.6 million in 2016 compensation.
Wealthy, high-profile individuals are increasingly hacker targets.