Former AIG Chief Executive Officer Martin Sullivan can throw a few extra hamburgers on the grill this Fourth of July.AIG has agreed to give Sullivan, 53, around $47 million in severance and long-term compensation.
Sullivan, who was replaced by Robert Willumstad last month, will receive $15 million in severance pay, a bonus of $4 million and equity and long-term cash awards valued at about $28 million, the New York-based company said in its regulatory filing.
During Sullivan's tenure as CEO, the company reportedly lost 46 percent of its market value.
So much for getting paid for a job well done.
Give us your opinion...should Sullivan have gotten $47 million in compensation?
.jpg)
No comments:
Post a Comment