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AIG Replaces Chairman With Legend

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ROCK STAR CEO, ER, CHAIRMAN
DailyFeed
Chairman Harvey Golub is out, and a name you might recognize is in at AIG. Marketwatch reports:

"In a resignation letter published by AIG, Golub writes that the company's CEO, Robert Benmosche, had informed the board that "he believes our relationship as chairman and CEO to be ineffective and unsustainable." He added: "I'm resigning for the simple reason that I believe it is easier to replace a chairman than a CEO."

Golub has resigned from the company's board, effective immediately, and he will be replaced as chairman by Steve Miller.

Steve Miller, best-known for such classic songs as "Fly Like an Eagle," "Take the Money and Run," and "The Joker," has no prior experience running multinational insurance conglomerates. However, we wish him all the best and are certain he will transition into his new post seamlessly.

Oh, wait. It's a different Steve Miller. Apparently, this guy is "a veteran of corporate restructurings and a former chairman and CEO at Delphi Corp."

Well, this is embarrassing. Oops.
POSITION:  No positions in stocks mentioned.
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