AIG Chief Executive Benmosche May Keep His Job – Big Surprise, He Also Earned Over $10 Million
by Staff Writer on December 28, 2011
Bob Benmosche poses in front of his mega-villa on the coast of the Adriatic in 2009
by Jack Kelly
American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche graciously stated that he may remain in his job longer than previously planned, according to an AIG spokesman. He accepted the position after the financial crisis of 2008 and assumed the role in mid-August 2009, planning to stay on for three years.
Mr. Benmosche in his sweet home theater in December 2011
Though Mr. Benmosche has been diagnosed and treated for cancer, he “…would like to, health-willing, continue to lead AIG past 2012,” AIG spokesman Herr said. AIG advised investors that Chairman Steve Miller is available to be CEO if Benmosche stepped down.
In September 2008, AIG received an overwhelming governmental bailout of over $180 billion. The U.S. Treasury Department stills owns over 75% of the company.
“I would like to see all the Treasury stocks sold and to feel comfortable that we have a sustainable organization and leadership team, that AIG if it hits some new bumps in the road will not have a problem,” Benmosche said in an interview. Benmosche, who is ranked in the top two hundred highest paid CEOs by Forbes magazine, did not mention his $10.5 million package as a reason for remaining with AIG.
Check out this video of Benmosche extolling his work ethic post financial crisis while on vacation at his unbelievably awesome 8,000 square foot Croatian summer home on the coast of the Adriatic. The villa boasts 12 bathrooms, 160 feet of seafront terraces, and a private dock for his boat.
In front of the 12-bathroom estate. "Women go wild when they walk in here," Benmosche said in 2009.
“People are criticising me for being on vacation,” Benmosche complained to Reuters in a 2009 interview. “I actually started working the week before I was actually supposed to start working because it wasn’t a matter of when I start, it was a matter of getting in, getting started. I do have conference calls every day, I have all my information sent here. I can work here as well as in the office in New York.” Benmosche left for vacation a few days after starting his new job as CEO of AIG in August 2009.
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