The chief executive officer of American International Group Inc. says AIG employees should ignore speculation about the possibility that he might quit.
Robert Benmosche, the CEO of AIG, New York, (NYSE:AIG) has written a letter to AIG employees in response to an article that appeared today in the Wall Street Journal.
The Wall Street Journal is reported that Benmosche told the AIG board last week that he was quitting, then agreed to reconsider at the board’s urging.
The article suggests that Benmosche was upset by government restrictions on AIG executive compensation.
What Your Peers Are Reading
The government now owns a 79.9% stake in AIG.
Kenneth Feinberg, the special master for Troubled Asset Relief Program executive compensation, last month slashed payments to AIG’s top 25 employees by 91% for the remainder of the year.
There may be employee concerns about “news accounts speculating about my frustration with the time and effort it is taking to ensure that our top 100 executives are compensated fairly,” Benmosche writes in the letter to AIG employees.