That is the question posed by an article in the Wall Street Journal on Thursday, which unsurprisingly goes on to say yes and then helpfully outlines how it will might be done.
Basically, Bob Benmosche is going to be read the riot act very soon:
Some AIG board members intend to discuss how to better manage Mr. Benmosche when independent directors convene privately during a board retreat in mid-September, according to people familiar with the matter. They may tell him that a change in tone is essential.
The board “could go so far as to say, ‘It’s a condition of your continued employment,’” one person said. At the least, there could be “a little adult counseling” from Chairman Harvey Golub, another person suggested. Mr. Golub, who along with Mr. Benmosche assumed his post Aug. 10, declined to comment Wednesday about that possible scenario.
All of which is a pity. We have enjoyed hearing, variously, about Bob’s pay packet; his holiday home in Croatia (the one with a bathroom that drives women wild); and his views on bankers, not to mention his outspoken attack on New York Attorney General Andrew Cuomo – a “criminal” who should not be in government apparently.
Still, Bob seems to know what’s coming his way on his return from the Adriatic coast:
“It would be appropriate if they said it,” said Mr. Benmosche, 65 years old, in an interview Wednesday. “But the board doesn’t have to tell me that. I’ve already told it to myself.” He said he and Mr. Golub have discussed the flap over the Cuomo remarks. Mr. Golub said earlier this week that the comments weren’t made “in a thoughtful way.”
Related links:
Benmosche appointed AIG chief – FT Alphaville