BUSINESS

AIG's Debt Problems Could Land CEO In Hot Water

03/28/2008 02:45 am ET | Updated May 25, 2011

American International Group's disclosure that its losses from risky debt may be billions of dollars more than previously reported could eventually put CEO Martin Sullivan's job in jeopardy, people within the company told CNBC.

Earlier Monday, the world's largest insurer disclosed that the value of some of its risky debt portfolio had plunged by $5.96 billion, not $1.6 billion as AIG reported earlier.

The disclosure cast doubt on AIG's past contention that it didn't face major problems stemming from the credit crisis that has slammed other financial institutions.

Read more on CNBC

Suggest a correction