Greenberg Says, AIG Chief Liddy Not Equipped to Run Firm

By Hugh Son
Bloomberg News
December 22, 2008

Dec. 23 (Bloomberg) -- Maurice "Hank" Greenberg, the former chief executive officer of American International Group Inc., said new CEO Edward Liddy's experience running Allstate Corp. "hardly equips" him to run AIG.

Managing Allstate, which specializes in home and auto coverage in the U.S. "is not the same," as AIG, which operates in more than 100 countries, Greenberg said in an on-air interview on CNBC today. "I've known Liddy for many years," Greenberg said. "In fact, he tried to peddle Allstate to me at some point."

Liddy was appointed in September by the U.S. to run New York-based AIG after the company needed a federal rescue to stave off bankruptcy. He is the third CEO at the firm since Greenberg was forced out in 2005.

AIG spokesman Nicholas Ashooh didn't immediately respond to an e-mail message or phone call. Maria Gemskie, a spokeswoman for Northbrook, Illinois-based Allstate, didn't immediately return a phone message.

Copyright © 2008 FBIC (

Click here to return to FBIC homepage