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{{short description|American businessman (born 1946)}}
'''Edward M. Liddy''' (born January 28, 1946) is presently the CEO of [[American International Group]] (AIG), where he succeeded [[Robert B. Willumstad]].<ref>{{cite web | url = http://www.bloomberg.com/apps/news?pid=20601082&sid=al1yqdbt6HGY | title = AIG Gets $85 Billion Fed Loan, Cedes Control to Avert Collapse | publisher = Bloomberg.com | date = 2008-09-16 | accessdate = 2008-09-16}}</ref>. He is also the former [[Chairman]], [[President]] and [[Chief Executive Officer]] of The [[Allstate Corporation]]. Liddy is currently on the Board of [[3M]] and The [[Kroger]] Company. Upon taking the position of CEO at [[American International Group]], Mr. Liddy had to resign his Board position at [[Goldman Sachs]]. Prior to Allstate Mr. Liddy also held the position of Chief Financial Officer of G. D. Searle & Co, a company which former Defense Secretary [[Donald Rumsfeld]] held the Chief Executive Officer position. He has recently become a partner at [[private equity]] firm [[Clayton, Dubilier & Rice]], which he joined in 2008.<ref>{{cite web | title= Clayton, Dubilier & Rice: Biography | url=http://www.cdr-inc.com/index_bio.html | publisher=[[Clayton, Dubilier & Rice]] | accessdate = 2008-09-16}}</ref>
{{Infobox person
| name = Ed Liddy
| birth_date = {{Birth date and age|1946|01|28}}
| birth_place = [[New Brunswick, New Jersey]], U.S.
| education = [[Bachelor of Arts|B.A.]], [[Catholic University of America]] - 1968<br />[[MBA]], [[George Washington University]] - 1972
| known_for = [[Clayton, Dubilier & Rice]] (2008, 2010-2015) - partner;<br />[[AIG]] (2008-2009) - interim chairman & [[CEO]];<br />[[The Allstate Corp.]] (1994-2008), chairman and CEO (1999-2006);<br />[[Sears, Roebuck & Co]] (1988-1994), [[CFO]] (1992-1994)
| boards = [[Abbott Laboratories]], [[AbbVie Inc.]] and the [https://www.theforumclub.org/ Forum Club of Southwest Florida]
}}
'''Edward''' "'''Ed'''" '''Liddy''' (born January 28, 1946) is an [[American businessman]] who was chairman of [[the Allstate Corporation]] from 1999 to 2008.<ref name="Board of Directors">{{cite web|title=Board of Directors: Edward M. Liddy|url=http://phx.corporate-ir.net/phoenix.zhtml?c=80574&p=irol-govBioCorpGov&ID=49860|website=3M|access-date=2011-09-19|archive-url=https://web.archive.org/web/20160119070232/http://phx.corporate-ir.net/phoenix.zhtml?c=80574&p=irol-govBioCorpGov&ID=49860|archive-date=2016-01-19|url-status=dead}}</ref><ref name="Corporate Governance">{{cite web|url=http://www.boeing.com/corp_gov/board_directors.html|title=Corporate Governance: Board of Directors|publisher=Boeing|access-date=2011-09-19}}</ref><ref name="Executive Profile">{{cite web|title=Edward M. Liddy Executive Profile|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=198435&privcapId=289194|publisher=Bloomberg|access-date=2017-08-24}}</ref>


In September 2008, at the request of the secretary of the [[U.S. Department of the Treasury]], Liddy agreed to serve as interim chairman and chief executive officer of [[American International Group, Inc.]] (AIG).<ref name="10 Things">{{cite web|url=https://www.usnews.com/news/national/articles/2009/03/18/10-things-you-didnt-know-about-aig-ceo-edward-liddy|title=10 Things You Didn't Know About AIG CEO Edward Liddy|first=Debra|last=Bell|date=2009-03-18|publisher=[[U.S. News & World Report|US News]]|access-date=2011-09-20}}</ref><ref name="Tapped Again">{{Citation|url=http://news.muckety.com/2008/09/18/former-allstate-chairman-edward-liddy-tapped-again-by-treasury-secretary/5092|title=Former Allstate Chairman Edward Liddy tapped (again) by Paulson|publisher=Muckety|last=Eisenberg|first=Carol|date=2008-09-18|access-date=2009-03-27|archive-date=2009-03-22|archive-url=https://web.archive.org/web/20090322154323/http://news.muckety.com/2008/09/18/former-allstate-chairman-edward-liddy-tapped-again-by-treasury-secretary/5092|url-status=dead}}</ref> His placement in the role was one of numerous government actions to provide stability to U.S. financial firms during the [[2007–2008 financial crisis]]. Liddy requested a salary of just $1 a year.<ref name="$1">{{cite news| last =Grace | first =Kerry E. | title =AIG Says CEO Pay Will Be $1 | work =[[The Wall Street Journal]] | page =C2 | date=2008-11-26 | url =https://www.wsj.com/articles/SB122762976460756705?mod=todays_us_money_and_investing }}</ref>
Liddy is a former executive and board member of [[Allstate]], a large American supplier of personal insurance products. Born in [[New Brunswick]], [[New Jersey]], he holds a degree from [[Catholic University of America]] (1968) and earned a [[MBA]] from [[George Washington University]] (1972).


==Early life==
Liddy garnered national headlines in October 2008 for defending a controversial $440,000 AIG corporate executive retreat at the luxury St. Regis Resort in Monarch Beach, California. The retreat, which was held shortly after the U.S. government rescued AIG from insolvency with $84 billion in loans, included $200,000 for rooms, $150,000 for meals and $23,000 for the spa. In testimony before the U.S. House Oversight Committee, Liddy stated that such retreats "are standard practice in our industry."<ref>{{cite web | title= AIG Gets More Government Bailout Money | url=http://voices.washingtonpost.com/livecoverage/2008/10/government_to_give_aig_more.html | publisher=[[Washington Post]] | accessdate = 2008-10-09}}</ref>

Liddy was born in [[New Brunswick, New Jersey]].<ref name="10 Things" /> After the death of his father in 1959, he moved to [[Clearwater, Florida]], with his mother and older sister. He was a member of the first graduating class of [[Clearwater Central Catholic High School]] in 1964.<ref name="Alumni Award">{{cite news|title=Edward Liddy honored with Distinguished Alumni Award|url=http://www.tbnweekly.com/pinellas_county_schools/content_articles/032217_sch-01.txt|access-date=24 August 2017|publisher=Tampa Bay Newspapers Weekly|date=22 March 2017}}</ref> He earned his bachelor's degree from the [[Catholic University of America]] (1968)<ref name="Executive Profile" /><ref name="10 Things" /> and MBA from [[George Washington University]] (1972).<ref name="Executive Profile" /><ref name="10 Things" />

==Career==

Liddy began his career as a financial analyst with [[Ford Motor Company]] in 1972.<ref name="Crain's">{{cite news|title=The reappraisal of Edward Liddy|url=http://www.chicagobusiness.com/article/20050502/NEWS01/200016340/the-reappraisal-of-edward-liddy|access-date=2017-08-24|publisher=Crain's Chicago Business|date=2005-05-02}}</ref> He joined [[G.D. Searle & Co.]], and its CEO [[Donald Rumsfeld]], in 1979, eventually becoming [[CFO]]. Upon the sale of Searle to [[Monsanto]], he served from 1986 to 1988 as executive vice president and a member of the board of directors of [[The ADT Corporation|ADT, Inc.]]<ref name="MPR News">{{cite news|title=AIG CEO Edward Liddy: Bio|url=https://www.mprnews.org/story/2008/10/22/corner_office_liddy_bio|access-date=24 August 2017|publisher=Minnesota Public Radio News|date=22 October 2008|archive-date=25 August 2017|archive-url=https://web.archive.org/web/20170825024930/https://www.mprnews.org/story/2008/10/22/corner_office_liddy_bio|url-status=dead}}</ref>

===Sears, Roebuck and Co.===

Upon the sale of ADT, Liddy joined Sears in April 1988 and served in a variety of financial and senior operating roles before being named chief financial officer in February 1992.<ref name="Executive Profile" /> In that role, he was the architect and implementer of the successful restructuring of Sears, which involved breaking the company into numerous public companies ([[Sears]], [[The Allstate Corporation]], [[Dean Witter]])<ref name="Crain's" /> and selling non-core assets ([[Homart Development Company]], [[Coldwell Banker]] Residential Broker, Sears Mortgage and Sears Savings Bank).<ref name="LA Times 1992">{{cite news|title=No Bidder Shortage Seen for Coldwell Banker Real Estate|url=https://www.newspapers.com/newspage/177453762/|access-date=24 August 2017|work=[[Los Angeles Times]]|date=30 September 1992}}</ref> He led the 1993 initial public offerings of Dean Witter/Discover and Allstate, two of the largest ever IPOs at that time.<ref name="LA Times 1993">{{cite news|title=America Loves Allstate--More Than $2 Billion Sold: Stock: Investors eager to buy into the Sears insurance unit snap up the issue at $27 a share|url=https://www.latimes.com/archives/la-xpm-1993-06-03-fi-43025-story.html|access-date=2017-08-24|work=Los Angeles Times|date=1993-06-03}}</ref> He also led the 1995 spinoff of Allstate from Sears.

===The Allstate Corporation===

After the IPO of Allstate,<ref name="LA Times 1993" /> Liddy held positions of increasing responsibility with the Allstate Corporation, the largest publicly held personal lines property and casualty insurer in America,<ref name="Allstate.com">{{cite web|title=Allstate Overview: Our Story, About Allstate|url=https://www.allstate.com/about.aspx?intcid=ILC-OurStory-141201:AllstateOverview&_ga=2.249483847.1394954308.1497021555-1331398811.1495738942|website=Allstate.com|access-date=2017-06-16}}</ref> from 1994 to 2008. He served as chairman from January 1999 until his retirement in April 2008. He was chief executive officer from January 1999 until December 2006, and president and chief operating officer from August 1994 to December 1998.<ref name="Board of Directors" /><ref name="Corporate Governance" /><ref name="Executive Profile" /> Under Liddy's leadership, the company was streamlined by exiting non-core businesses and the company expanded its distribution system beyond its traditional agency force to reach customers through the internet and call centers.<ref name="2000 Annual Report">{{cite web|title=Letter to Shareholders, The Allstate Corporation 2000 Annual Report.|url=https://www.allstate.com/resources/allstate/attachments/about/allstate-sar-2000.pdf|website=Allstate.com|access-date=24 August 2017}}</ref> During Liddy's tenure as president and then CEO, Allstate's market value more than tripled, from $11 billion (December 31, 1994) to over $40 billion (December 31, 2006).<ref name="2006 Annual Report">{{cite web|title=Letter to Shareholders, The Allstate Corporation 2006 Annual Report|url=https://www.allstate.com/resources/allstate/attachments/about/2006-allstate-sar.pdf|website=Allstate.com|access-date=24 August 2017}}</ref>

===American International Group===

In September 2008, at the request of the Secretary of the [[U.S. Department of the Treasury]], Liddy agreed to serve as interim chairman and chief executive officer of [[American International Group]], Inc. (AIG).<ref name="10 Things" /><ref name="Tapped Again" /> His placement in the role was one of numerous government actions to provide stability to U.S. financial firms during the [[2007–2008 financial crisis]]. He requested a salary of just $1 per year.<ref name="$1" />

The restructuring of AIG that Liddy took on was one of the largest in U.S. corporate history.<ref name="tortuous turnaround">{{cite news|title=Special report: Inside AIG's tortuous turnaround|url=https://www.reuters.com/article/us-aig-ipo-idUSTRE6BK3G020101221|access-date=24 August 2017|publisher=Reuters|date=21 December 2010}}</ref> He and the AIG team developed a strategy to stabilize the company and its $1.2 trillion balance sheet; keep the company out of bankruptcy; repay with interest all money invested in the company by various U.S. government entities, which eventually totaled $182 billion; and keep the remaining business that would comprise AIG vital and competitive.<ref name="AIG 2008 Annual Report">{{cite web|title=AIG 2008 Annual Report|url=http://www.aig.com/content/dam/aig/america-canada/us/documents/investor-relations/2008-annual-report.pdf|website=AIG.com|publisher=AIG|access-date=24 August 2017|url-status=dead|archive-url=https://web.archive.org/web/20161201215942/http://www.aig.com/content/dam/aig/america-canada/us/documents/investor-relations/2008-annual-report.pdf|archive-date=1 December 2016}}</ref><ref name="Liddy Testimony">{{cite news|title=Testimony of Mr. Edward Liddy|url=http://graphics8.nytimes.com/packages/pdf/politics/fsc_testimony_of_mr_edward_liddy.pdf?mcubz=0|access-date=24 August 2017|work=[[The New York Times]]|date=18 March 2009}}</ref>

The government bailout of AIG<ref name="$85 Billion Loan">{{cite news|title=Fed's $85 Billion Loan Rescues Insurer|url=https://www.nytimes.com/2008/09/17/business/17insure.html|access-date=24 August 2017|work=The New York Times|date=16 September 2008}}</ref> garnered national headlines in May 2009 when AIG, with the concurrence of the U.S. Treasury and [[Federal Reserve]], paid earned bonuses to employees of its Financial Products Business, determining the payments were contractual obligations. Liddy noted that "honoring contractual commitments is at the heart of what we do in the insurance business."<ref name="ABC News">{{cite news|title=11 who got $1M bonuses no longer with AIG|url=https://abcnews.go.com/Business/story?id=7103785|access-date=24 August 2017|work=ABC News}}</ref> At the same time, he urged the employees who received $165 million in bonuses to "do the right thing" and return at least part of their bonus.<ref>{{Citation | url = https://abcnews.go.com/Business/Economy/story?id=7102844&page=1 | title = AIG CEO Liddy Calls Bonuses 'Distasteful'; Asks Execs to Return Money | last1 = Gomstyn | first1 = Alice | last2 = Herman | first2 = Charles | work = ABC News | date = 2009-03-19 | access-date = 2009-03-19 }}</ref>

Once the company was stabilized, a viable plan in place to repay the government assistance and a management team partially in place to execute the strategy, Liddy announced on May 21, 2009, he would resign as AIG chairman and CEO when replacements were found.<ref name="Liddy Resigns">{{cite news|title=Brought In to Lead AIG in Upheaval, Liddy to Resign|url=https://www.washingtonpost.com/wp-dyn/content/article/2009/05/21/AR2009052103465.html|access-date=24 August 2017|newspaper=Washington Post|date=22 March 2009}}</ref> He suggested the two roles be split.<ref>{{cite web | title = AIG's Liddy Stepping Down As CEO, Chairman Of Big Insurer | work = [[CNBC]] | date = 2009-05-21 | url = https://www.cnbc.com/2009/05/21/aigs-liddy-stepping-down-as-ceo-chairman-of-big-insurer.html | access-date = 2009-05-21}}</ref> In August 2009, [[Robert Benmosche]] took over as CEO and [[Harvey Golub]] as chairman.<ref>{{cite news|title=AIG Names Former Amex CEO Golub As Chairman|url=http://www.insurancejournal.com/news/national/2009/08/07/102834.htm|access-date=2017-08-24|publisher=Insurance Journal|date=2009-08-07}}</ref>

By December 2012, AIG had fully repaid the entire $182 billion, plus required interest, invested in the company by the government.<ref name="Final Payment">{{cite news|title=AIG Makes Final Repayment to Government for Bailout|url=https://www.cnbc.com/2013/03/01/aig-makes-final-repayment-to-government-for-bailout.html|access-date=24 August 2017|publisher=CNBC|date=1 March 2013}}</ref>

===Clayton, Dubilier & Rice, LLC===

Liddy served as a partner in the private equity investment firm [[Clayton, Dubilier & Rice]], LLC from April to September 2008 and from January 2010 to December 2015.<ref name="Executive Profile" />

===Board of directors roles===

Liddy serves on the board of directors of [[Abbott Laboratories]],<ref name="Abbott">{{cite web|title=Governance: Board of Directors|url=http://www.abbott.com/investors/governance/board-of-directors-and-committees.html|website=Abbott|access-date=2017-06-02}}</ref> [[AbbVie Inc.]]<ref name="AbbVie">{{cite web|title=Our Company, Leadership, Board of Directors: AbbVie|url=https://www.abbvie.com/our-company/leadership.html|website=AbbVie|access-date=2017-06-02}}</ref> and the Forum Club of Southwest Florida.<ref>{{Cite web|title=Forum Club of Southwest Florida, Inc.|url=https://www.theforumclub.org/|access-date=2021-01-10|website=www.theforumclub.org}}</ref> He previously served on the board of directors of [[3M Company]]<ref name="Board of Directors" /> and [[the Boeing Company]].<ref name="Corporate Governance" />

==Philanthropy and civic engagement==

Liddy has been actively involved in a number of philanthropic and civic endeavors. He serves as a life trustee for [[Northwestern University]].<ref>{{cite web|title=Northwestern University: Administration and Planning, Board of Trustees, Life Trustees.|url=http://www.adminplan.northwestern.edu/board-of-trustees/life/index.html|website=Northwestern University|access-date=2017-08-24}}</ref> He is also life trustee and chairman emeritus of [[Northwestern Memorial Hospital]] in Chicago, a life trustee of the [[Museum of Science and Industry (Chicago)|Museum of Science and Industry]] in Chicago<ref>{{cite web|title=Museum of Science and Industry Chicago: About Us, Leadership, Board of Trustees|url=https://www.msichicago.org/explore/about-us/leadership/board-of-trustees/|publisher=Museum of Science and Industry Chicago|access-date=2017-08-24}}</ref> and a life trustee and former national chairman of the [[Boys & Girls Clubs of America]].<ref name="Executive Profile" /> He served as chairman of the Civic Committee of the [[Commercial Club of Chicago]] as well as chairman of the club. He also served as chairman of the [[Executive Club|Executives Club of Chicago]] and [[Metropolitan Family Services]].


==References==
==References==
{{reflist}}
{{Reflist}}

==External links==
* Bell, Debra (March 18, 2009). [https://www.usnews.com/articles/news/national/2009/03/18/10-things-you-didnt-know-about-aig-ceo-edward-liddy.html "10 Things You Didn't Know About Edward Liddy"]. ''[[U.S. News & World Report]]''.
* Yerak, Becky (September 18, 2008). [https://web.archive.org/web/20170825034554/http://articles.chicagotribune.com/2008-09-18/business/0809170916_1_aig-troubled-insurer-allstate-ceo {{"'}}Steady hand' Liddy picked to head AIG"]. ''[[Chicago Tribune]]''.
* Liddy, Edward M. (March 18, 2009). [https://www.washingtonpost.com/wp-dyn/content/article/2009/03/17/AR2009031703019.html "Repairing AIG and Repaying the Public"]. ''[[The Washington Post]]''.
* [http://content.time.com/time/business/article/0,8599,1900429,00.html "Behind Ed Liddy's Departure from AIG"]. ''[[Time (magazine)|Time]]''. May 22, 2009
* Eder, Steve (May 21, 2009). [https://www.reuters.com/article/us-aig-liddy-sb-idUSTRE54L0H720090522 "Liddy, AIG's embattled steward, has no regrets"]. [[Reuters]].


{{3M}}
{{Kroger}}
{{American International Group}}
{{American International Group}}
{{Authority control}}


{{DEFAULTSORT:Liddy, Edward M.}}
{{DEFAULTSORT:Liddy, Edward M.}}

⚫
[[Category:Living people]]
[[Category:1946 births]]
[[Category:1946 births]]
[[Category:American businesspeople]]
[[Category:Boeing people]]
[[Category:Directors of 3M]]

[[Category:Goldman Sachs people]]
{{business-bio-stub}}
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[[Category:Living people]]

[[Category: The Catholic University of America alumni]]
[[Category:Catholic University of America alumni]]
[[Category: George Washington University alumni]]
[[Category:George Washington University School of Business alumni]]
[[Category:American chairpersons of corporations]]
[[Category:American chief executives of financial services companies]]
[[Category:American chief operating officers]]
[[Category:American International Group people]]

Latest revision as of 01:35, 11 November 2024

Ed Liddy
Born (1946-01-28) January 28, 1946 (age 78)
New Brunswick, New Jersey, U.S.
EducationB.A., Catholic University of America - 1968
MBA, George Washington University - 1972
Known forClayton, Dubilier & Rice (2008, 2010-2015) - partner;
AIG (2008-2009) - interim chairman & CEO;
The Allstate Corp. (1994-2008), chairman and CEO (1999-2006);
Sears, Roebuck & Co (1988-1994), CFO (1992-1994)
Board member ofAbbott Laboratories, AbbVie Inc. and the Forum Club of Southwest Florida

Edward "Ed" Liddy (born January 28, 1946) is an American businessman who was chairman of the Allstate Corporation from 1999 to 2008.[1][2][3]

In September 2008, at the request of the secretary of the U.S. Department of the Treasury, Liddy agreed to serve as interim chairman and chief executive officer of American International Group, Inc. (AIG).[4][5] His placement in the role was one of numerous government actions to provide stability to U.S. financial firms during the 2007–2008 financial crisis. Liddy requested a salary of just $1 a year.[6]

Early life

[edit]

Liddy was born in New Brunswick, New Jersey.[4] After the death of his father in 1959, he moved to Clearwater, Florida, with his mother and older sister. He was a member of the first graduating class of Clearwater Central Catholic High School in 1964.[7] He earned his bachelor's degree from the Catholic University of America (1968)[3][4] and MBA from George Washington University (1972).[3][4]

Career

[edit]

Liddy began his career as a financial analyst with Ford Motor Company in 1972.[8] He joined G.D. Searle & Co., and its CEO Donald Rumsfeld, in 1979, eventually becoming CFO. Upon the sale of Searle to Monsanto, he served from 1986 to 1988 as executive vice president and a member of the board of directors of ADT, Inc.[9]

Sears, Roebuck and Co.

[edit]

Upon the sale of ADT, Liddy joined Sears in April 1988 and served in a variety of financial and senior operating roles before being named chief financial officer in February 1992.[3] In that role, he was the architect and implementer of the successful restructuring of Sears, which involved breaking the company into numerous public companies (Sears, The Allstate Corporation, Dean Witter)[8] and selling non-core assets (Homart Development Company, Coldwell Banker Residential Broker, Sears Mortgage and Sears Savings Bank).[10] He led the 1993 initial public offerings of Dean Witter/Discover and Allstate, two of the largest ever IPOs at that time.[11] He also led the 1995 spinoff of Allstate from Sears.

The Allstate Corporation

[edit]

After the IPO of Allstate,[11] Liddy held positions of increasing responsibility with the Allstate Corporation, the largest publicly held personal lines property and casualty insurer in America,[12] from 1994 to 2008. He served as chairman from January 1999 until his retirement in April 2008. He was chief executive officer from January 1999 until December 2006, and president and chief operating officer from August 1994 to December 1998.[1][2][3] Under Liddy's leadership, the company was streamlined by exiting non-core businesses and the company expanded its distribution system beyond its traditional agency force to reach customers through the internet and call centers.[13] During Liddy's tenure as president and then CEO, Allstate's market value more than tripled, from $11 billion (December 31, 1994) to over $40 billion (December 31, 2006).[14]

American International Group

[edit]

In September 2008, at the request of the Secretary of the U.S. Department of the Treasury, Liddy agreed to serve as interim chairman and chief executive officer of American International Group, Inc. (AIG).[4][5] His placement in the role was one of numerous government actions to provide stability to U.S. financial firms during the 2007–2008 financial crisis. He requested a salary of just $1 per year.[6]

The restructuring of AIG that Liddy took on was one of the largest in U.S. corporate history.[15] He and the AIG team developed a strategy to stabilize the company and its $1.2 trillion balance sheet; keep the company out of bankruptcy; repay with interest all money invested in the company by various U.S. government entities, which eventually totaled $182 billion; and keep the remaining business that would comprise AIG vital and competitive.[16][17]

The government bailout of AIG[18] garnered national headlines in May 2009 when AIG, with the concurrence of the U.S. Treasury and Federal Reserve, paid earned bonuses to employees of its Financial Products Business, determining the payments were contractual obligations. Liddy noted that "honoring contractual commitments is at the heart of what we do in the insurance business."[19] At the same time, he urged the employees who received $165 million in bonuses to "do the right thing" and return at least part of their bonus.[20]

Once the company was stabilized, a viable plan in place to repay the government assistance and a management team partially in place to execute the strategy, Liddy announced on May 21, 2009, he would resign as AIG chairman and CEO when replacements were found.[21] He suggested the two roles be split.[22] In August 2009, Robert Benmosche took over as CEO and Harvey Golub as chairman.[23]

By December 2012, AIG had fully repaid the entire $182 billion, plus required interest, invested in the company by the government.[24]

Clayton, Dubilier & Rice, LLC

[edit]

Liddy served as a partner in the private equity investment firm Clayton, Dubilier & Rice, LLC from April to September 2008 and from January 2010 to December 2015.[3]

Board of directors roles

[edit]

Liddy serves on the board of directors of Abbott Laboratories,[25] AbbVie Inc.[26] and the Forum Club of Southwest Florida.[27] He previously served on the board of directors of 3M Company[1] and the Boeing Company.[2]

Philanthropy and civic engagement

[edit]

Liddy has been actively involved in a number of philanthropic and civic endeavors. He serves as a life trustee for Northwestern University.[28] He is also life trustee and chairman emeritus of Northwestern Memorial Hospital in Chicago, a life trustee of the Museum of Science and Industry in Chicago[29] and a life trustee and former national chairman of the Boys & Girls Clubs of America.[3] He served as chairman of the Civic Committee of the Commercial Club of Chicago as well as chairman of the club. He also served as chairman of the Executives Club of Chicago and Metropolitan Family Services.

References

[edit]
  1. ^ a b c "Board of Directors: Edward M. Liddy". 3M. Archived from the original on 2016-01-19. Retrieved 2011-09-19.
  2. ^ a b c "Corporate Governance: Board of Directors". Boeing. Retrieved 2011-09-19.
  3. ^ a b c d e f g "Edward M. Liddy Executive Profile". Bloomberg. Retrieved 2017-08-24.
  4. ^ a b c d e Bell, Debra (2009-03-18). "10 Things You Didn't Know About AIG CEO Edward Liddy". US News. Retrieved 2011-09-20.
  5. ^ a b Eisenberg, Carol (2008-09-18), Former Allstate Chairman Edward Liddy tapped (again) by Paulson, Muckety, archived from the original on 2009-03-22, retrieved 2009-03-27
  6. ^ a b Grace, Kerry E. (2008-11-26). "AIG Says CEO Pay Will Be $1". The Wall Street Journal. p. C2.
  7. ^ "Edward Liddy honored with Distinguished Alumni Award". Tampa Bay Newspapers Weekly. 22 March 2017. Retrieved 24 August 2017.
  8. ^ a b "The reappraisal of Edward Liddy". Crain's Chicago Business. 2005-05-02. Retrieved 2017-08-24.
  9. ^ "AIG CEO Edward Liddy: Bio". Minnesota Public Radio News. 22 October 2008. Archived from the original on 25 August 2017. Retrieved 24 August 2017.
  10. ^ "No Bidder Shortage Seen for Coldwell Banker Real Estate". Los Angeles Times. 30 September 1992. Retrieved 24 August 2017.
  11. ^ a b "America Loves Allstate--More Than $2 Billion Sold: Stock: Investors eager to buy into the Sears insurance unit snap up the issue at $27 a share". Los Angeles Times. 1993-06-03. Retrieved 2017-08-24.
  12. ^ "Allstate Overview: Our Story, About Allstate". Allstate.com. Retrieved 2017-06-16.
  13. ^ "Letter to Shareholders, The Allstate Corporation 2000 Annual Report" (PDF). Allstate.com. Retrieved 24 August 2017.
  14. ^ "Letter to Shareholders, The Allstate Corporation 2006 Annual Report" (PDF). Allstate.com. Retrieved 24 August 2017.
  15. ^ "Special report: Inside AIG's tortuous turnaround". Reuters. 21 December 2010. Retrieved 24 August 2017.
  16. ^ "AIG 2008 Annual Report" (PDF). AIG.com. AIG. Archived from the original (PDF) on 1 December 2016. Retrieved 24 August 2017.
  17. ^ "Testimony of Mr. Edward Liddy" (PDF). The New York Times. 18 March 2009. Retrieved 24 August 2017.
  18. ^ "Fed's $85 Billion Loan Rescues Insurer". The New York Times. 16 September 2008. Retrieved 24 August 2017.
  19. ^ "11 who got $1M bonuses no longer with AIG". ABC News. Retrieved 24 August 2017.
  20. ^ Gomstyn, Alice; Herman, Charles (2009-03-19), "AIG CEO Liddy Calls Bonuses 'Distasteful'; Asks Execs to Return Money", ABC News, retrieved 2009-03-19
  21. ^ "Brought In to Lead AIG in Upheaval, Liddy to Resign". Washington Post. 22 March 2009. Retrieved 24 August 2017.
  22. ^ "AIG's Liddy Stepping Down As CEO, Chairman Of Big Insurer". CNBC. 2009-05-21. Retrieved 2009-05-21.
  23. ^ "AIG Names Former Amex CEO Golub As Chairman". Insurance Journal. 2009-08-07. Retrieved 2017-08-24.
  24. ^ "AIG Makes Final Repayment to Government for Bailout". CNBC. 1 March 2013. Retrieved 24 August 2017.
  25. ^ "Governance: Board of Directors". Abbott. Retrieved 2017-06-02.
  26. ^ "Our Company, Leadership, Board of Directors: AbbVie". AbbVie. Retrieved 2017-06-02.
  27. ^ "Forum Club of Southwest Florida, Inc". www.theforumclub.org. Retrieved 2021-01-10.
  28. ^ "Northwestern University: Administration and Planning, Board of Trustees, Life Trustees". Northwestern University. Retrieved 2017-08-24.
  29. ^ "Museum of Science and Industry Chicago: About Us, Leadership, Board of Trustees". Museum of Science and Industry Chicago. Retrieved 2017-08-24.
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