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John Paulson leaving AIG board of directors

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John Paulson leaving AIG board of directors

Hedge fund manager John Paulson is leaving the board of American International Group Inc., the Financial Times reported Wednesday.

A spokesman for New York-based Paulson & Co., which Mr. Paulson founded in 1994, declined to comment. 

Mr. Paulson had been part of a revolt against CEO Peter Hancock, who agreed to step down last month on the heels of a $3 billion quarterly loss. Mr. Paulson and activist investor Carl Icahn had been pushing for change at AIG since 2015.

Paulson & Co., which had been among the company’s 20 largest shareholders, recently halved its stake to less than 0.5% percent, the Financial Times said. 

Last month, Charles Murphy, the firm’s lead insurance analyst, died in an apparent suicide. 

 

 

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