After a less-than-amicable departure from
According to a Bloomberg report, Golub said that he believes the company should eventually be broken up because the insurer's two main businesses have “no strategic fit between them.”
“Longer-term, AIG shouldn't exist,” Golub said during the interview. According to the report, Golub feels that the company should be split, thereby making independent firms of
“When it gets broken apart, as I think ultimately it will, both of those pieces may unlock much greater value,” Golub said in the interview.
Golub resigned as chairman on July 14 last year following public speculation that he and CEO Robert Benmosche sparred over the troubled sale of AIA Group, AIG’s Asian life business unit. Golub, who previously served as CEO of American Express, came to AIG as its nonexecutive chairman in August 2009 to replace Edward Liddy during the company’s tumultuous economic woes
In a letter to AIG Director George Miles last July, Golub said, "Bob Benmosche has informed the board that he believes our working relationship as Chairman and CEO to be ineffective and unsustainable," Golub said. "At this point, I view asking the board to choose between us would be an abdication of my responsibility to lead. Consequently, I'm resigning for the simple reason I believe it is easier to replace a chairman than a CEO."
Since Golub's departure, Robert "Steve" Miller has taken the mantle of chairman.
