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AIG to give Sullivan pay details to US
17.10.08
American International Group (AIG), the bailed-out insurance giant, is to give New York Attorney General Andrew Cuomo details of payments it made to its ex-chief executive, Martin Sullivan.
Edward Liddy, the new chairman and CEO of AIG, told Cuomo last night he will co-operate in trying to recover any illegal payments.
Cuomo has complained about Sullivan's $5 million (£2.88 million) cash bonus and $15 million golden parachute paid earlier this year.
AIG has also promised that it will cancel more than 160 events which it said could be seen as junkets, or perks, costing a total of more than $8 million.
