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Washington, D.C.— Today, Congressman Elijah E. Cummings (D-Md.), a senior member of the House Committee on Oversight and Government Reform, released the following statement in response to AIG’s announcement that Chairman & CEO Edward Liddy will be stepping down from his position:
“For months, I have been urging Edward Liddy to step down from his role as Chairman and CEO of AIG. It became clear early on that Mr. Liddy was not the right fit for this position, and as time has progressed, he has continued to lose the confidence of the U.S. Congress and of the American people. This was the right move.
“AIG has received $182.5 billion of taxpayer funds, and the American people now own a majority of the company. It is critical that the new Chairman and CEO of AIG be completely committed to transparency and accountability to ensure that the American people know what is happening with their money and when they will get it back. It is also important that the search for a new Chairman and CEO be conducted quickly but also deliberately to ensure that Mr. Liddy’s replacements have the necessary background, expertise, and character for their roles.”
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