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’AIG’s new chief executive worth 7 million times the old one
Annual salary of AIG’s previous chief executive, Edward Liddy = $1.
Annual salary of AIG’s new chief executive, Robert Benmosche = $7m in cash and stock.
DealBook reports:
The American International Group said Monday that it will pay its new chief executive,
Liddy to step down from AIG
Edward Liddy, the government-appointed chairman and chief executive of AIG, is to leave the stricken insurer after only eight months in a move that will allow the Obama administration to choose its own leaders for the troubled insurer.
Anyone left on the Titanic? Or, Liddy’s leaving AIG
AIG is splitting the roles of chairman and chief executive, and Edward Liddy, who’s been at the helm all of eight months, will leave as soon as replacements are found. Dealbreaker has the memo, which we’ve reproduced below:
Dear AIG…
The NY Times on Wednesday featured a strongly-worded and impassioned letter sent by Jake DeSantis, an executive vice president at AIG’s financial products unit to chief executive Edward Liddy.
Here’s the 1,500 word dispatch in full:
AIG chief tries to ward off backlash
Edward Liddy, chief executive of AIG, moved to defuse political opposition to the government’s latest $150bn rescue plan for the insurer, saying US taxpayers would “do very well” out of the deal.