AIG Up 25% Today On CEO Comments

Last night, AIG's (NYSE: AIG) CEO, Robert Benmosche, said he'd consider consulting with AIG's former long-time CEO Maurice "Hank" Greenberg. On the news of AIG's CEO saying that he'd talk with Greenberg, the stock moved up in the after-hours last night and today is up 24% to $46.88.

Benmosche told Reuters, "I want to get the benefit of his criticisms or his support. The world may choose to vilify him. I think of him as having had some problems, but he can help us with the solutions."

Greenberg controls the largest privately held stake in AIG. He has AIG’s best chance to repay the government is to rebuild the company, the approach Benmosche told employees he will take.

Greenberg told Reuters, "Some, who had been there before, shouldn’t have been put in that spot. In my judgment, they did not have the breadth, intellect or experience necessary. Bob has all of that."

Benmosche was previously CEO of MetLife (NYSE: MET), the largest U.S. life insurer.

Sign up at EasyStockAlerts.com & Make Money Today!

You May Also Be Interested In

• Scorpion Capital says short Twist Biosciences
• Holcim said to acquire part of James Hardie's EU business
• Bessent: nothing magic about $40 trillion debt number