RBC: AIG CEO Departure Is Bad News For Shareholders

Rupert Hargreaves

Published onMarch 9, 2017

Updated on May 14, 2021

The removal of American International Group Inc (NYSE:AIG) CEO Peter Hancock is broadly negative for the company according to a flash research note on the topic from RBC Capital Markets.

The insurance giant said today that Peter Hancock will step down as questions about his ability to steer the business through its continued restructuring remain. The CEO’s two-year turnaround plan appears to be faltering after AIG reported a unexpectedly large quarterly loss for the fourth quarter of last year, mainly due to a $5.6 billion reserve charge to cover possible future claims.

AIG — By Marc Bryan-Brown (American International Group) [CC BY-SA 4.0], via Wikimedia Commons

Hancock...

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Rupert Hargreaves

Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for Hedge Fund Alpha

RBC: AIG CEO Departure Is Bad News For Shareholders

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