AIG approves a $7 million package for CEO Robert Benmosche
November 26th, 2009 - 11:44 pm ICT by Aishwarya Bhatt ( 3 comments )New York, Nov 26 (THAINDIAN NEWS) The insurance company American International Group has announced that it will pay an annual package of $7 million in cash and stock combined to chief executive officer Robert Benmosche.
Benmosche would receive an annual salary of $3 million in cash and $4 million in AIG common stock as per the previous agreement on August 17, AIG said in a statement. But as part of the compensation agreement, Robert Benmosche would be restricted from selling the shares for five years from his start date of August 10, 2009, the statement added.
The US government now holds a whooping 80 per cent in AIG. The US government had given a $180 billion bailout package to AIG in 2008. In view of the $180 billion the US government would also keep a close watch on the packages received by the top brass of the struggling company AIG.
Robert Benmosche was working at MetLife previously and he had taken the charge of the troubled company AIG in August, replacing Edward M Liddy.
According to the The Wall Street Journal, Benmosche has now signed a “non-compete agreement”, a sign that he is committed to his role in AIG until the job is done.
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Tags: aig, american international group, annual salary, august 10, bailout package, ceo robert, chief executive officer, close watch, common stock, compensation agreement, insurance, insurance company, job, metlife, non compete agreement, robert benmosche, top brass, wall street, wall street journal
November 27th, 2009 at 9:13 am
must be nice to be a useless piece of Sh#$ rip the us taxpayer off then have the balls to stay on at aig that comp needs to fall off the face of the earth the hard working taxpayer who owns this comp doesnt get a vote into you getting a bonusw must Fuc%^^@#$ nice, worthless piece of Shit
November 29th, 2009 at 2:42 am
Wait a minute. We gave them a ton of money to bail them out. How does he desderve this. I am so sick of they were to large to fail. Our voice means nothing
November 29th, 2009 at 4:45 am
It always amazes me, to hear about such huge pays / pay offs, for people, which aren’t any more skilled, learned and educated, as people I know, but which earning just about enough annually, of no more than $30,000 , or so. Who really is granting ang giving them this kind of money, …..what makes them so much more special than another person, to justify such a pay, …and what are they really doing, to justify such an enormouse sum ?! ……Look for example at our President’s salary,and compare it ….and he really has lots more on his shoulders than any of such
CEO’s, etc !!