John Paulson leaving AIG board of directors
Posted On: Apr. 12, 2017 10:23 AM CST
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.