2000-09-20 Evan Greenberg.Evan Greenberg Resigns From AIG, Leaving Father Without Successor

2000-09-20 Evan Greenberg.Evan Greenberg Resigns From AIG, Leaving Father Without Successor


Evan Greenberg abruptly resigned as president and chief operating officer of American International Group Inc., leaving the financial-services giant without an obvious successor to his father, Maurice R. "Hank" Greenberg, the longtime chairman and chief executive, who turned 75 in May.
埃文·格林伯格突然辞去了美国国际集团(AIG)总裁兼首席运营官的职务,这使得这家金融服务巨头失去了一个明显的接班人来继承他父亲莫里斯·R·“汉克”·格林伯格的职位,后者是长期担任董事长和首席执行官的人,并于5月年满75岁。

The resignation of Evan Greenberg, which shocked many in the insurance world, was eerily reminiscent of the abrupt departure just over five years ago of another Greenberg son, Jeffrey, who then was an AIG executive vice president and heir apparent.
埃文·格林伯格的辞职让许多保险业人士感到震惊,令人不禁想起五年前另一个格林伯格的突然离职。当时,格林伯格的哥哥杰弗里·格林伯格是AIG的执行副总裁和继承人,突然离开了公司。
Warning
出生于专制的家庭,每个儿子都很想证明自己。
The company said Evan Greenberg, 45 years old, who has worked at AIG for 25 years and became president in 1997, was leaving "to pursue other interests." Like his older brother, he left without publicly identifying his next step and declined to elaborate.
公司表示,现年45岁的埃文·格林伯格在AIG工作了25年,并于1997年成为总裁,他辞职是“为了追求其他兴趣”。像他的哥哥一样,他离职时没有公开说明下一步打算,并拒绝进一步解释。

Jeffrey Greenberg now is chairman and CEO of the giant insurance-brokerage, investment and consulting business, Marsh & McLennan Cos. Some insurance executives have suggested that he might emerge again as a candidate to succeed the elder Mr. Greenberg, who has indicated that he has no plans of stepping down soon. Jeffrey Greenberg, 49, declined to comment Tuesday on any matters related to AIG.
杰弗里·格林伯格现在是巨大的保险经纪、投资和咨询公司——马什麦克伦南公司(Marsh & McLennan Cos.)的董事长兼首席执行官。一些保险业高管暗示,他可能再次成为继任父亲职位的候选人,尽管老格林伯格表示他没有计划即将辞职。现年49岁的杰弗里·格林伯格周二拒绝就与AIG相关的任何问题发表评论。

In its terse six-line statement, AIG noted that Evan Greenberg's responsibilities would be assumed by other senior executives, and declined to comment further about his departure.
AIG在其简短的六行声明中提到,埃文·格林伯格的职责将由其他高级管理人员接手,并未进一步评论他的离职原因。

What prompted his resignation wasn't clear, but the move highlights a brain drain of high-level managers and other senior staff from AIG that some executive recruiters say has increased in recent months. While some recruiters and rival insurance executives linked those departures to the younger Mr. Greenberg's demanding management style, some speculated that his resignation may have been in response to the controlling and demanding management style of his father.
促使他辞职的原因尚不清楚,但这一举动突显了AIG高层管理人员和其他高级职员的流失,一些高管猎头表示,最近几个月这种情况有所增加。虽然一些猎头和竞争对手的保险业高管将这些离职归因于年轻格林伯格要求苛刻的管理风格,但也有一些人猜测,他的辞职可能是对父亲控制性强和要求苛刻的管理风格的反应。

The elder Mr. Greenberg, who declined to comment, is known as a fierce taskmaster. While Jeffrey Greenberg has never publicly discussed why he left the company in 1995, people close to him and other AIG executives have said that conflict with his father was a major factor in his decision to leave.
老格林伯格,拒绝发表评论,以严厉的管理风格而闻名。尽管杰弗里·格林伯格从未公开讨论他为何在1995年离开公司,但接近他的人和其他AIG高管表示,父子间的冲突是他离职的主要原因。

The company's investors greeted the news of Evan Greenberg's resignation calmly Tuesday, as AIG's stock rose $1.75 to $90.13 in 4 p.m. New York Stock Exchange composite trading -- a reaction that analysts attributed to the faith many have in the elder Mr. Greenberg. Mr. Greenberg is largely credited for transforming AIG from an overseas-focused life insurer into a hugely profitable financial-services powerhouse with subsidiaries operating in more than 130 countries, including big asset-management, airplane-leasing and currency-trading operations. Its stock has risen 341% in the past five years, far outperforming its rivals, and the company's market capitalization is about $209 billion.
公司的投资者在周二对埃文·格林伯格辞职的消息反应平淡,AIG的股票在纽约证券交易所收盘时上涨了1.75美元,收于90.13美元——分析师将这种反应归因于许多人对老格林伯格的信任。老格林伯格被广泛认为将AIG从一家专注于海外的寿险公司转变为一家盈利巨大的金融服务巨头,旗下子公司遍布130多个国家,包括大型资产管理、飞机租赁和外汇交易业务。过去五年,AIG的股票上涨了341%,远远超过了其竞争对手,公司的市值约为2090亿美元。

The timing of Evan Greenberg's resignation was particularly surprising because he had enjoyed an increasingly public role of late, joining his father on overseas trips to meet heads of state, regulators and foreign dignitaries, for instance. At the company's annual shareholders meeting in May, the company fielded some criticism about whether the elder Mr. Greenberg, AIG's single biggest individual stockholder, with influence over a voting stake of more than 20%, was inappropriately treating succession as if it were a family matter. The elder Mr. Greenberg vigorously defended his son, saying his decision to tap him as successor was "the right decision ... what's best for the company."
埃文·格林伯格辞职的时机尤为令人吃惊,因为他最近越来越多地参与公开活动,例如与父亲一起出访,拜访国家元首、监管机构和外国政要。在公司5月的年度股东大会上,公司受到一些批评,质疑老格林伯格作为AIG最大单一股东,拥有超过20%的投票权,是否将继任问题视为家族事务处理。老格林伯格坚决为儿子辩护,称他选定埃文作为接班人是“正确的决定……对公司最有利的决定”。

But insurance executives who have talked to senior managers within AIG said Evan Greenberg had recently chafed at his father's refusal to relinquish more control. And the backdrop was heightened pressure on Evan Greenberg to maintain strong results in the company's core U.S. property-casualty operations, where many prices have been under pressure for a decade. Former AIG executives said the elder Mr. Greenberg was as tough on Evan Greenberg about improving the company's already-strong results as he was on any other AIG manager.
然而,与AIG高级经理交谈的保险业高管表示,埃文·格林伯格最近因父亲拒绝放弃更多控制权而感到不满。背后是埃文·格林伯格面临着更大压力,要求他保持公司核心美国财产和意外险业务的强劲业绩,而在过去十年里,许多保险价格一直受到压力。AIG的前高管表示,老格林伯格在要求埃文·格林伯格改善公司已经强劲的业绩方面对他和对其他AIG管理人员一样苛刻。

"It appears that Evan has become frustrated with waiting to run AIG, and he is an individual who has multiple opportunities outside of AIG and has obviously decided to pursue them," said M. Evan Lindsay, partner in charge of executive recruiter Heidrick & Struggles International Inc.'s insurance practice.“
“看起来埃文已经对等待接管AIG感到沮丧,而他是一个有多个外部机会的人,显然决定去追求这些机会,”执行猎头公司海德思哲国际(Heidrick & Struggles)保险业务负责人M.埃文·林赛(M. Evan Lindsay)说道。

At an industry conference on Monday in New York, the elder Mr. Greenberg sat on a panel in which he was asked his opinion on when a CEO should step down. His reply, according to attendees, was that "when a CEO should step down is not age-related. It is only time for a CEO to step down when he no longer has the ability, interest or vitality to successfully lead a company." Evan Greenberg was among those sitting in the audience.
在周一纽约举行的行业会议上,老格林伯格参加了一个小组讨论,讨论了首席执行官应该何时辞职的问题。根据与会者的说法,他的回答是:“首席执行官应该何时辞职与年龄无关。只有当首席执行官不再具备成功领导公司所需的能力、兴趣或活力时,才是他应该辞职的时候。” 埃文·格林伯格正是坐在观众席中的一员。
Warning
性格的自我选择是非常明显的。
Executive recruiters familiar with AIG describe the younger Mr. Greenberg as an acerbic overachiever. But he, too, could find his father overpowering. Indeed, Evan Greenberg was known to alert his staff a week before he met with his father to help him become properly prepared. "With Dad, he was like a kid," one financial-services industry recruiter said.
熟悉AIG的高管猎头形容年轻的格林伯格为一个尖刻而过于追求成就的人。但他也会感到父亲的威势过于强大。事实上,埃文·格林伯格据说会在与父亲会面前一周通知自己的团队,帮助他做好充分准备。一位金融服务行业的猎头说道:“和他父亲在一起时,他就像个孩子。”
Warning
过分的想要证明自己。
Though he clearly remains a work in progress, Evan Greenberg has impressed many people, both inside and outside the company, as possessing some of his father's strengths. Among other things, he has shown a knack for improving the businesses he has run, including AIG's Japanese and Korean operations, which he ran between 1991 and 1994 before returning to New York to oversee all international property-casualty operations. And he has done all this with an unorthodox background: He never earned a college degree.
尽管显然他仍然是一个正在进步中的人物,埃文·格林伯格在公司内部和外部的许多人眼中,展现出了与父亲相似的一些优势。他在许多方面表现出了提升他所管理的业务的能力,包括他在1991至1994年期间管理的AIG日本和韩国的业务,在此之后他回到纽约,负责所有国际财产险业务。他之所以能够做到这一切,背景也非常不同寻常:他没有获得大学学位。

His ascension to the top job wasn't assured, but was subject to approval by AIG's board. Seven outside board members who were telephoned Tuesday didn't return messages seeking comment. As recently as this summer, one of them publicly praised Evan Greenberg as showing "a sophisticated knowledge of the operations of which he is in charge" but said he needed to continue to "prove himself in this job."
他升任最高职位并不是理所当然的,而是需要经过AIG董事会的批准。周二联系的七位外部董事都没有回复寻求评论的消息。直到今年夏天,其中一位董事公开称赞埃文·格林伯格“对他所负责的业务运作有着深刻的了解”,但同时表示他还需要继续“在这份工作中证明自己”。

Analysts said there are no signs that the departure signaled earnings or other problems that may have been at the root of any disagreement between Mr. Greenberg and his son. "The [property-casualty insurance] industry has been very competitive, but AIG's results have held up quite well," said Jay Cohen, an analyst at Merrill Lynch & Co. "We've looked at the loss reserves of the company, and they look quite adequate. We don't see any underlying problems in their property-casualty business."
分析师表示,没有迹象表明他的离职意味着盈利或其他问题,可能是导致格林伯格先生与儿子之间分歧的根本原因。美林证券的分析师杰伊·科恩(Jay Cohen)表示:“财产险行业竞争非常激烈,但AIG的业绩表现相当不错。我们查看了公司的赔付准备金,它们看起来非常充足。我们没有看到财产险业务中存在任何潜在问题。”

If the company has appeared to face any problems, it was in connection with the string of departures in recent months, both of high-level managers and those who put together often highly complex and profitable insurance packages for big clients. The company has lost such employees to rivals including Chubb Corp. and Ace Ltd., a fast-growing Bermuda-based insurer headed by an ex-AIG executive vice president.
如果公司看似面临任何问题,那可能是与近期一系列高层管理人员的离职相关,这些人负责为大客户制定常常极其复杂且盈利的保险方案。公司失去了这些员工,他们加盟了包括Chubb公司和Ace Ltd.(一家由前AIG执行副总裁领导的快速发展的百慕大保险公司)等竞争对手。

"AIG is the finishing school of the industry, and they've definitely lost good people," said Alice Schroeder, a property-casualty insurance analyst with Morgan Stanley Dean Witter, but she pointed out that the company always has been able to attract able replacements.“
摩根士丹利的财产险分析师艾丽丝·施罗德(Alice Schroeder)表示:“AIG是这个行业的终极学校,他们确实失去了很多优秀的人才。”但她指出,公司总能吸引到有能力的接班人。

While the pressure on the company's property-casualty managers might not abate with Evan Greenberg's departure, some analysts said it might prompt those at the highest levels of management to reconsider any planned moves, as they may now see themselves as having the opportunity to succeed Mr. Greenberg one day.
虽然公司财产险经理面临的压力可能不会因为埃文·格林伯格的离职而减轻,一些分析师表示,这可能促使高层管理人员重新考虑任何计划中的离职,因为他们现在可能会看到自己有机会在未来接替格林伯格先生的位置。

"So the silver lining is, there are very talented people at AIG who will get a chance to advance," said Ms. Schroeder, adding, "I don't see any downside to the stock. AIG either internally or externally can get anybody it wants as a CEO. The lack of an immediate heir apparent doesn't trouble us."
“所以,积极的一面是,AIG有很多非常有才华的人,他们将有机会晋升。”施罗德女士说道,并补充道:“我不认为这对股票有任何负面影响。AIG无论是内部还是外部,都能找到任何他们想要的CEO。没有立即的继任人选并不会让我们担忧。”

Among the potential internal candidates, insurance-industry analysts and recruiters mentioned a range of executives who head various U.S. and foreign property-casualty units, as well as Jay Wintrob, chief operating officer and newly named CEO of AIG's big SunAmerica asset-management, annuity and life-insurance business. Outside the company, Brian Duperreault, the ex-AIG executive who heads Ace, is frequently mentioned as a logical candidate. Mr. Duperreault declined to comment.
在潜在的内部候选人中,保险行业的分析师和猎头提到了几位领导美国和外国财产险部门的高管,以及Jay Wintrob,AIG大型SunAmerica资产管理、年金和人寿保险业务的首席运营官及新任CEO。公司外部,经常有人提到前AIG高管、现任Ace公司CEO的布赖恩·杜佩尔雷(Brian Duperreault)是一个合乎逻辑的候选人。杜佩尔雷先生拒绝发表评论。

--Joann S. Lublin contributed to this article.--Joann S. Lublin 为本文做出了贡献。

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