Boss of bailed-out AIG to get big bucks
By Steveson Jacobs |
August 19, 2009, Wednesday
|
Print Edition
Print Edition
AMERICAN International Group Inc's new chief executive officer will be paid a yearly salary worth US$7 million and could earn millions more in performance-based incentives, the bailed-out insurance giant said on Monday.
Robert Benmosche will receive US$3 million in cash and US$4 million in stock under his annual compensation package, AIG said in a filing with the US Securities and Exchange Commission.
During the credit crisis last fall, the government rescued AIG from the brink of collapse with a bailout package worth up to US$182.5 billion. The government now owns roughly 80 percent of the huge insurer. AIG is now shedding assets and cutting costs as it restructures.
Benmosche, a former MetLife Inc chairman and CEO, was named president and CEO of AIG on August 3. He replaced CEO Edward Liddy, former CEO of Allstate Corp, who took over last fall after the government rescued the New York-based insurer.
Liddy, who agreed to run the company for an annual salary of US$1, refused an equity grant he was expected to receive as compensation.
Benmosche will also be eligible for a yearly performance-based bonus of up to US$3.5 million in stock, according to the company.
Robert Benmosche will receive US$3 million in cash and US$4 million in stock under his annual compensation package, AIG said in a filing with the US Securities and Exchange Commission.
During the credit crisis last fall, the government rescued AIG from the brink of collapse with a bailout package worth up to US$182.5 billion. The government now owns roughly 80 percent of the huge insurer. AIG is now shedding assets and cutting costs as it restructures.
Benmosche, a former MetLife Inc chairman and CEO, was named president and CEO of AIG on August 3. He replaced CEO Edward Liddy, former CEO of Allstate Corp, who took over last fall after the government rescued the New York-based insurer.
Liddy, who agreed to run the company for an annual salary of US$1, refused an equity grant he was expected to receive as compensation.
Benmosche will also be eligible for a yearly performance-based bonus of up to US$3.5 million in stock, according to the company.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
