AIG, the US insurer that received billions of dollars in a US bailout, said on Tuesday that it has been authorised by its board to pay CEO Robert Benmosche’s $7m compensation, after it laid to rest concerns that he may quit the post, reports Reuters. The approval means that AIG can pay Benmosche an already agreed annual salary of $3m in cash and $4m in fully-vested AIG stock. The agreement comes after Benmosche, a former CEO of US insurer MetLife, told the board he was tempted to quit amid frustration over the extent of governmental oversight at the company, including how much it can pay top executives.

This entry was posted by Gwen Robinson on Wednesday, November 25th, 2009 at 4:28 and is filed under Capital markets, People. Tagged with aig, Robert Benmosche. Edit this entry.