From my perch on the treadmill this afternoon, the television showed what I’ve been recommending since Robert Willumstad took control (this word has now taken on a different meaning) at AIG:
Hank Greenberg wrote to the new CEO at AIG, Robert Willumstad offering his help in return for nothing. AIG turned Greenberg down because he might ‘overshadow’ the CEO. Now what is that all about?
Check out StreetTalk ™ at http://www.isn-inc.com/ – titled – “Wishful Thinking…” (July 2) or go to the editor's blog at http://www.isn-inc.blogspot.com/ – same title.
This isn’t about saving face; this is about saving AIG; this is about working smart quickly to tackle a possibly solvable challenge with the right person(s) helping. Hank Greenberg is that person – he built the company from a small insurance company into the world’s biggest commercial insurance company – he knows where all the pieces are.
I hope the Board of Directors understands this. Put differences aside – this is too big, too important for too many people in too many countries around the world. We're talking about money and people here.
Get a grip - smart people do the right thing. So do real leaders.
Tune in to http://www.isn-inc.com/ for the latest insurance news from around the world. For more in-depth coverage including special reports, subscribe to the Insurance Research Letter – available on-line at https://www.isn-inc.com/members/subscribe/
Hank Greenberg wrote to the new CEO at AIG, Robert Willumstad offering his help in return for nothing. AIG turned Greenberg down because he might ‘overshadow’ the CEO. Now what is that all about?
Check out StreetTalk ™ at http://www.isn-inc.com/ – titled – “Wishful Thinking…” (July 2) or go to the editor's blog at http://www.isn-inc.blogspot.com/ – same title.
This isn’t about saving face; this is about saving AIG; this is about working smart quickly to tackle a possibly solvable challenge with the right person(s) helping. Hank Greenberg is that person – he built the company from a small insurance company into the world’s biggest commercial insurance company – he knows where all the pieces are.
I hope the Board of Directors understands this. Put differences aside – this is too big, too important for too many people in too many countries around the world. We're talking about money and people here.
Get a grip - smart people do the right thing. So do real leaders.
Tune in to http://www.isn-inc.com/ for the latest insurance news from around the world. For more in-depth coverage including special reports, subscribe to the Insurance Research Letter – available on-line at https://www.isn-inc.com/members/subscribe/
1 comment:
I couldn't agree more. Whatever faults Mr. Greenberg is purported to have, he built this company over the last 35 years and to have some Citibank castoff ignore his offers of advice is scandalous. It's typical of the CEOs who run a lot of our companies: they all yap about shareholder value yet in fact they're in it solely for their own gain. What's this Willumstad guy got to lose? Oh yeah, and my Citibank stock is down 80% this year, too.
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