Former AIG CEO and Chairman Maurice “Hank” Greenberg warned against the movement to install more outside directors on corporate boards long before a group of outsiders took over American International Group (AIG) and forced his early resignation in March 2005.
“What happened after Enron, boards got concerned about their own liability. I think in the Enron case, many board members were sued directly. There was a shift in the balance between the management of a company and the board,” Greenberg says in an excerpt from a recent video interview with Wells Media Group’s Andy Simpson.