Management Turnover as Change Agent

Wednesday, October 7, 2009

Suggested Reading - AIG's New CEO, American Public Media's Marketplace

Scott Jagow wrote a quick read piece on AIG’s new CEO Bob Benmosche for his Scratch Pad column on American Public Media’s Marketplace. Jagow manages to get the essence of how Benmosche in his short stay at his new position has managed to tweak so many. Below is just some of what Jagow mentioned.

… so far, he isn’t making many friends…

It started as soon as Benmosche was hired. His first action as head of AIG was to take a two-week vacation in Croatia. There, he told reporters he wasn’t in any hurry to repay the TARP loan by selling off assets too quickly. This didn’t go over too well with some members of Congress.

Then, he was quoted as saying that New York Attorney General Andrew Cuomo “doesn’t deserve to be in government.”

Let’s hope he ultimately does better with the company itself. Stay tuned.

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