Sacked AIG chief to get up to 68 mln dlrs: watchdog

WASHINGTON (AFP) — Sacked American International Group chief executive Martin Sullivan is likely to walk away with a severance package of as much as 68 million dollars, a corporate watchdog group said Tuesday.

The Corporate Library, a group that tracks governance and compensation issues, made the estimate from the company's executive severance plan and most recent proxy statement filed with regulators.

Sullivan was ousted over the weekend after AIG reported a first-quarter net loss of 7.81 billion dollars, the biggest in its history, and had to raise 20 billion dollars in capital to shore up the balance sheet of the world's biggest insurer.

According to the Corporate Library, the package for Sullivan would include 26.6 million dollars in cash bonuses, 21.9 million in stock awards and 14 million dollars in a deferred compensation plan. Pension, salary and insurance benefits would also be included.

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