In early March, Peter Hancock announced that he was stepping down as CEO of insurer AIG—a move that followed a struggle to deliver the performance the board and investors wanted.
Hancock moved into the top job in 2014, making him the company’s fifth CEO since Maurice “Hank” Greenberg left in 2005. That changing lineup is a reflection of the challenges that have faced the company, including having to deal with a high-profile government bailout after the 2008 financial crisis. AIG eventually paid off the government loan, but that was not the end of its troubles.
Hancock’s compensation was reduced significantly in his second year due to missed profitability targets. By the time he resigned, the company had seen four unprofitable quarters out of the previous six—and its fourth quarter loss was $3.04 billion.
Over the last two years, Hancock’s job has been complicated by activist investors, including Carl Icahn, who want to divide AIG into three separate companies—a move that Hancock did not support.
Hancock is staying on as CEO until AIG finds a new top executive. With AIG’s challenges, that may not be easy. As one Atlantic Equities analyst noted, “The job is incredibly demanding and possibly the most complicated within the property-and-casualty industry.”
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
