Get out your tomatoes. This is the guy who approved those “retention” bonuses that AIG tried to pay after sucking up nearly $200 billion from U.S. taxpayers. Sullivan was ousted before the bailout, but his inaction as CEO helped create AIG’s mess. He brushed off the firm’s subprime exposure as “manageable” while writedowns mounted and the firm recorded its two largest-ever quarterly losses.
THE STAT: Sullivan’s severance package was $25.4 million, including $322,000 for private use of corporate aircraft.
AIG Company Website