NU Online News Service, May 5, 11:45 a.m. EDT--Former American International Group Chief Executive Officer Maurice Greenberg lambasted company board members yesterday for what he believes are their high-handed methods in addressing disputed accounting issues and possible executive wrongdoing.
Mr. Greenberg's letter to board members centered on AIG's press release earlier this week detailing a planned restatement of five years of financial results due to accounting improprieties.
"Given the innuendo contained in the AIG release of May 1, which can be interpreted as impugning the integrity of prior and present AIG management, I was surprised that the release provided no factual basis to explain why AIG or [company auditor] PricewaterhouseCoopers changed its position," Mr. Greenberg wrote.
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