AIG Cuts CEO Incentive Award 29% After Missing Profit Goals

Updated on
  • Hancock falls short in return-on-equity, expense-cut targets
  • Insurer abandons credit-swaps as pay metric after Icahn's push

American International Group Inc., the insurer being pressured by activist investors to split up, cut short-term incentive pay for Chief Executive Officer Peter Hancock by 29 percent last year as he missed profit targets.

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