Outgoing AIG boss reveals his thoughts in letter to staff
AIG’s former boss Ed Liddy has said in a letter to staff that he didn’t know what he was getting into when he joined the firm, Bloomberg reports.
“Truth be told, I had no idea what I was in for when I accepted this assignment, but I am glad that I came,” Liddy said in a letter dated 7 August. “It hasn’t been easy, and goodness knows, it hasn’t been pretty.”
“I will return to retirement with $1, a few bruises and a feeling of hard-earned accomplishment,” Liddy said in the letter. “I do not intend to linger or second-guess new management or policy makers.”
Lessons for the future
Bloomberg reports that Liddy said he plans to “pass on the lessons of this extraordinary phase of American financial history” to future business leaders. “America has lost confidence in corporations,” he said. “Restoring that confidence is the first step toward regaining our footing in the global economy.”
Liddy called the dismantling of AIG a “re- birth”.
