From PEHub today:
“There’s a WSJ report this morning that Bob Willumstad has rejected a $22 million severance package from AIG, where he served as CEO for the past few months. If accurate, this is an exceptional decision, in multiple senses. My hat’s off to the man, although it would be further off had he managed to execute AIG’s restructuring plan.”
Now that is a good example of communicating remorse. There is nothing like action to speak louder than words and turning down $22 million is ACTION.
I couldn’t find the WSJ report on www.wsj.com — I think they forgot to update the search engine when they reconfigured the website because that is the third article I’ve tried to find with no avail.
Anyway, good to see Willumstad is being responsible and turning down severance.