A.I.G. Chief’s Mission: Save Executive Pay


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Published in The New York Times November 12, 2009 by Mary Williams Walsh

The American International Group’s chief executive on Wednesday tried to calm fears that he was about to jump ship, with an open letter to employees announcing he was “totally committed to leading A.I.G. through its challenges.”
Robert Benmosche, chief executive of the insurer since August, confirmed that he was “frustrated” about how long it was taking to devise an executive compensation plan that was “fair” but did not violate the restrictions the government has placed on companies that are receiving taxpayer assistance.
Mr. Benmosche told employees he was “continuing to fight on your behalf,” and urged them “not to be distracted by speculative media stories, and to maintain your focus on the important work you are doing.”

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