- His predecessors having been burned by setting goals they were unable to meet, new AIG CEO Brian Duperreault tells investors the company will no longer be providing financial targets.
- Case in point was the ROE target - announced to be 10% in late 2016, but then cut to 9.5% a few months later ... followed by the axing of the CEO a few months after that.
- "We’re very surprised at its omission from the presentation," says KBW's Meyer Shields, unable to find his go-to sheet on the property & casualty units in this morning's earnings slides.
- In other news, Duperreault reiterated his position that the way forward for AIG is expansion, not asset sales and buybacks. "My priority is to take this capital and find ways where we can increase the franchise value of this company."
- Shares are down 0.8% on the session.
- Previously: AIG up 1.15% following earnings beat (Aug. 2)
- Previously: American International Group beats by $0.33 (Aug. 2)
- Now read: Great-West Lifeco, Inc. 2017 Q2 - Results - Earnings Call Slides
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