American International Group Inc
AIG: XNYS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $39.00 | Tkwqc | Xntvbbmzl |
AIG Fires Interim CFO
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American International Group announced that it has terminated interim CFO Mark Lyons after discovering that he had violated his confidentiality and nondisclosure agreements. The company said that the violations were not related to its financial statements or reporting, and that it and Lyons have reached a settlement agreement over the matter. Sabra Purtill will take over as interim CFO. While this situation doesn’t reflect well on management, we don’t believe it materially affects AIG from a long-term perspective, and we will maintain our $65 fair value estimate for the no-moat company.