Telegraph claim of inflated salary goes unexplained
The Telegraph says the new AIG boss Bob Benmosche could earn $13.5m in his first 12 months but failed to provide the number that add up.
It said: “According to a regulatory filing made with the Securities and Exchange Commission, Mr Benmosche will receive an annual salary of $7m, made up of $3m in cash and $4m in fully-vested AIG shares.
“He will also be eligible to receive a performance-related bonus of $3.5m, to be paid in shares that will vest over a number of years.”
Salary under scrutiny
Bloomberg added that White House spokesman Robert Gibbs said the $7m salary “will go through the process” for government review of compensation at companies bailed out by US taxpayers.
Kenneth Feinberg, the “special master for executive pay”, will examine the pay package to “ensure that it is consistent with his principles.”
