AIG hands ousted boss $48.8 million
Former AIG CEO Martin Sullivan has received a golden handshake worth $US47 million ($48.8 million).
Mr Sullivan will receive $US15 million ($15.6 million) in severance pay, a $US4 million ($4.2 million) bonus and “long-term cash awards” totalling $US28 million ($29.1 million).
AIG Chairman Robert Willumstad took over as CEO at the troubled US insurer last month following Mr Sullivan’s resignation.
Mr Sullivan will receive $US15 million ($15.6 million) in severance pay, a $US4 million ($4.2 million) bonus and “long-term cash awards” totalling $US28 million ($29.1 million).
AIG Chairman Robert Willumstad took over as CEO at the troubled US insurer last month following Mr Sullivan’s resignation.