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AIG and bonus

AIG and bonus
March 26, 2009 Ignacio Fiallos

The AP press reported Jake DeSantis, an executive vice president at AIG’s Financial Products division, sent an OP letter to the NY Times. In this letter, DeSantis stated he is leaving the company and will donate his entire bonus to charity. The letter, addressed to AIG’s CEO, Edward Liddy, criticized Liddy for, among other things, agreeing to the payments but then calling the bonuses “distasteful” as he testified before disapproving members of Congress.

De Santis feels betrayed by his boss-he feels Liddy is giving AIG executives no support to their problems, but rather do PR for the company.
How can an emploee feel loyal when your boss does not watch your back?
Trust is lost here and this debacle goes to show us that leaders must build and keep trust, otherwise people will leave your business.


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