CEO Watch List - Martin Sullivan, AIG, Update 2

Quick follow up to my previous blog June 9 on Martin Sullivan's status at AIG.  According to a story in Reuters, Catherine Seifert, an analyst for Standard and Poors, wrote a note that indicated AIG needed to reorganize its management and board.  The Reuters piece went on to state:

Seifert said AIG needed to take this step to regain its competitive strength. She also said AIG, the world's largest insurer, needed to provide greater clarity to investors about its risky mortgage bets.

On Wednesday, a group of investors holding about 4 percent of AIG's outstanding shares sent a letter to the board, saying it should form a committee to search for new management.

The Reuters story was not all negative.  The story referred to positive assessments from others regarding both Sullivan and the board.  Only time will tell but the S and P analysis was surely a another negative component to the ongoing pressure on Sullivan and his associates on the board.

Stay close by.

For more:

Financial Times