AIG’s boss denies he wants to quit after row with government
AIG chief executive claimed on Wednesday night that he remained "totally committed" to the troubled insurer, The Telegraph and others report.
He dismissed as "speculative" reports that he was on the verge of walking away just four months after joining.
In a letter to employees, Benmosche yesterday admitted that while both he and the board "are indeed frustrated" with both pay czar Ken Feinberg and the US Treasury, he remains "totally committed to leading AIG through its challenges".
Breaking point
The FT said the relationship between AIG and some of its US government paymasters was close to breaking point. At one point, one director told Mr Feinberg and Herb Allison, the Treasury’s assistant secretary for financial stability, that they should be running AIG because the board was not in a position to do so.
The Times said AIG’s stock fell 90 cents, or 2.4%, to $36.07.
Replaceable?
Reuters said Benmosche “has been at the insurer for only about three months, which is not enough time for him to have become essential for its daily operations. And Wall Street is full of competent executives looking for work.”
Bloomberg said AIG “may struggle to find a replacement”.
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