AIG's Essex boy may get a £35m pay-off
Dagenham-raised Martin Sullivan, ousted as chief executive of US insurer AIG, could get up to $68m (£34.7m) in severance pay and benefits - far more than previously expected.
Essex boy: Martin Sullivan may get a £35m pay-off
Sullivan left AIG after presiding over billions of dollars of losses on insurance sold to back sub-prime mortgage-related products.
Corporate governance firm The Corporate Library says he could receive up to $2.5m in salary, a $26.6m bonus, $14m from a defined contribution plan, $21.9m of stock, $3.3m in pension benefits and $32,316 in insurance coverage.
However, an AIG insider said Sullivan is more likely to receive between $35m and $50m.
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