AIG CEO Rejects $22 Million Parachute; Will Others Follow?

Who in his right mind would walk way from an eight-figure severance package? Try AIG's Robert Willumstad. Willumstad, 63, served as the chief executive officer of ailing insurance giant American International Group from June until he was replaced earlier this month. He was eligible for a severance package of $22 million, but in a Sunday e-mail to his successor, Edward Liddy, he said that he would decline the package. "I prefer not to receive severance payments while shareholders and employees...Full Story
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