Due to Pay Constraints, AIG CEO Says, "You Can Take This Job

by Derek Loosvelt | November 11, 2009

Bob Benmosche, AIG's third CEO in under a year, is so peeved about pay czar Kenny Feinberg capping his executive employees' pay that last week Bob told the AIG board that he's "done."

Bob hasn't yet handed in an official resignation, and don't forget that he nearly resigned last summer when it was unclear if his $10.5 million compensation package would be approved by Feinberg, so look for Bob to hang in there if not through 2010, at least through the holidays (after which AIG execs affected by Feinberg's cap could start darting for greener hills, depleting Bob's staff and thus his ability to steer the insurance giant in the direction he'd like).

Filed Under: Finance


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