Reuters - Some members of insurer AIG's board are concerned about recent strong comments from their new chief executive Robert Benmosche, the Wall Street Journal said on Wednesday citing people familiar with the matter.
NEW YORK (Reuters) - Some members of insurer AIG's board are concerned about recent strong comments from their new chief executive Robert Benmosche, the Wall Street Journal said on Wednesday citing people familiar with the matter.
The board of American International Group Inc decided on Wednesday not to join a lawsuit against the U.S. government over the terms of the company’s bailout, following two days of fevered backlash from Congress and the public over the prospect.
AIG had been weighing whether to join a lawsuit filed by its former chief executive, Hank Greenberg, and his company Starr International, which owned 12 percent of the insurer before its 2008 rescue.
The chief executive of bailed-out insurance giant AIG said Wednesday he would remain at the helm after reportedly threatening to step down over compensation limits imposed by the government.At a board meeting last week, Robert Benmosche told fellow AIG directors that he was "done" but agreed to think it over after other board members reacted with shock, The Wall Street Journal reported Wednesday, quoting people familiar with the matter.
Last month, AIG CEO Robert Benmosche told the Wall Street Journal that the public anger over AIG's post-bailout bonus structure was akin to lynching "sort of what we did in the Deep South [decades ago]." "And I think it was just as bad and just as wrong," he told the Journal.
Jan. 9 (Bloomberg) -- American International Group Inc. said it has a duty to weigh joining a suit by former Chief Executive Officer Maurice “Hank” Greenberg that claims the insurer’s 2008 U.S. bailout was unconstitutional. “The board of directors has fiduciary and legal obligations to the company and its shareholders to consider the demand served on us,” CEO Robert Benmosche said yesterday in a statement.
Reuters - Unhappy over constraints imposed by U.S. government overseers, American International Group Inc Chief Executive Robert Benmosche told the company's board last week that he is considering stepping down, the Wall Street Journal said, citing people familiar with the matter.