AIG chief takes pay-package cut

CEO Martin Sullivan's pay package was sliced by one-third after AIG reported a 56% drop in annual profit in its 2007 net.
APR 07, 2008
By  Bloomberg
American International Group Inc. chief executive Martin Sullivan's pay package was sliced by one-third to $14.3 million in 2007 after the insurance company reported a 56% drop in annual profit. The CEO of New York-based AIG received a salary of $1 million, a cash bonus of $3.6 million, $3 million in stock options, performance-based stock awards worth $1.34 million and other long-term incentives valued at $5.43 million, according to a filing with the Securities and Exchange Commission. The package is lower than the $21.2 million that Mr. Sullivan received the previous year. His year-end performance-based bonus was $2.5 million for 2007, compared with $9 million the previous year. In both years, Mr. Sullivan received $1.1 million quarterly bonuses.

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound