AIG CEO Threatens To Step Down

robert benmosche AIG

Robert Benmosche may step down as AIG CEO after just three months because of constraints from Washington. WSJ: At a board meeting last week, the strong-willed industry executive told fellow AIG directors that he was “done” but agreed to think it over after other board members reacted with shock, according to the people.

The executive is chafing under constraints imposed by AIG’s government overseers, particularly a recent compensation review by the Obama administration’s pay czar, Kenneth Feinberg, according to the people. AIG, 80% government owned since a rescue last year, is one of the companies under Mr. Feinberg’s purview.

The outspoken Benmosche has had a controversial start as Chief Executive, but things seemed to have calmed down and leaving the just-accepted post would be another blow to the troubled insurance giant.

Read the whole thing here.

Image: New York Post

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