Benmosche Threatens to Resign as AIG (AIG) CEO
Robert Benmosche, after just three months on the job, threatened to step down from Government-controlled insurer AIG (NYSE: AIG), a Wall Street Journal article reported today.
Mr. Benmosche made this announcement at a board meeting last week, saying that he wa "done" but would think about it. Board members reacted to this announcement with shock, a source noted.
After Benmosche and other board members of AIG met with pay czar Kenneth Feinberg, Benmosche said that his frustrations hit a crescendo, and he feels that it is an impossible situation.
Benmosche's departure could cause undue turmoil in AIG's battle to repay taxpayer's about $90 billion dollars. AIG is trying to keep employees motivated while selling off portions of its business.
A new CEO wouls be the thrid since the bailout in 2008, and fifth in 18 months.
Benmosche has a aggressive, blunt demeanor, which was known to AIG when they were conducting the hiring process.
Create E-mail AlertRelated Categories
General NewsStocks Mentioned
-0.69Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
