AIG says Benmosche will stay CEO until 2012

Contrary to proponents of anointing such professionals as ‘gatekeepers’ who police against corporate misconduct, the AIG story shows how such custodians run amok American International Group Inc, the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totalled US$182 billion, may join a lawsuit against the government alleging the terms of the deal were unfair.

While Ackman and Loeb battle it out over HLF, the other potentially firework-prone battle has died an ignominious death. The WSJ reports that AIG has generously decided not to bit the Treasury hand that fed it just a few short years ago:

NEW YORK (Reuters) - Bob Benmosche will continue as chief executive of bailed-out insurer American International Group Inc, having made sufficient progress in his treatment for cancer, the company...

NEW YORK (Reuters) - Bailed-out insurer American International Group Inc will resume using its brand name in public in a move to recognize the company's turnaround, Chief Executive Bob Benmosche said on Thursday. AIG, which received $182 billion in government bailouts during the financial crisis, has all but shunned its own name for years. Not only did various AIG units reorganize under rebranded holding companies, at one time employee ID badges did not even identify the company by name -- a measure, Benmosche has said, to protect employee safety. ...

NEW YORK (Reuters) - The board of bailed-out insurer American International Group on Wednesday said Chairman Steve Miller would become interim chief executive if CEO Bob Benmosche is sidelined by his...