AIA CEO Threatens to Quit (AIG, PRU)

The Chief Executive Officer of American International Insurance has announced that he will relinquish his chair if the Prudential PRU-AIG AIG deal comes to fruition. Currently, American International Group (AIG) is in talks with Prudential (PRU) for the sale of its Asian insurance arm. According to the Financial Times, Chief Executive Officer Mark Wilson has claimed the proposed merger to be “unworkable”. The newspaper also cited a source as saying, “Mark remains loyal to AIA, but doesn't plan to stay with the merged group because he feels it is a disaster waiting to happen.” Reuters has reported that Wilson faces an uncertain future in the new merged company. The Chief Executive Officer of Prudential Asia, Barry Stowe, is likely to head the merged unit.