Edward M. Liddy

Edward M. Liddy (born January 28, 1946) is presently the CEO of American International Group (AIG), where he succeeded Robert B. Willumstad. [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] . 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. [cite web | title= Clayton, Dubilier & Rice: Biography | url=http://www.cdr-inc.com/index_bio.html | publisher=Clayton, Dubilier & Rice | accessdate = 2008-09-16]

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).

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." [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 | date = 2008-10-08 | accessdate = 2008-10-09] During the U.S. presidential debate on October 7, 2008, Democratic presidential nominee Sen. Barack Obama mentioned the retreat and said, "The Treasury should demand that money back and those executives should be fired." [cite web | title= Obama Says AIG Execs Should Be Punished for Spa Trip | url=http://blogs.wsj.com/washwire/2008/10/07/obama-says-aig-execs-should-be-punished-for-spa-trip/?mod=googlenews_wsj | publisher=Wall Street Journal | date = 2008-10-07 | accessdate = 2008-10-09 ]

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