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Article: The enduring house that 'Hank' built; Despite bitter breakup, visionary chairman made AIG into a global powerhouse.(Forty Years of BI)(American International Group Inc.)(Company overview)
- Article from:
- Business Insurance
- Article date:
- October 8, 2007
- Author:
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Copyright informationCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: DOUGLAS McLEOD
Maurice R. Greenberg's 2005 departure from American International Group Inc. may have tarnished his reputation, but it has not obscured his achievements in nearly 40 years at the insurer's helm.
Mr. Greenberg, known as "Hank,'' took over an insurance group that produced net income of $13.4 million in 1969 and managed it into a financial services behemoth that generated $11.1 billion in income the year before his departure.
AIG's phenomenal success is attributable in large part to Mr. Greenberg's astute strategic vision for the company, and to his insistence on setting clear performance standards for AIG managers and holding them accountable ...
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