AIG May Find CEO Candidates Shun Obama Pay Parity

May 22nd, 2009 - Bloomberg

Related content:

May 22 (Bloomberg) -- American International Group Inc.,seeking its fifth leader since 2005, may be rejected bycandidates unwilling to accept a pay cut to try to turn around amoney-losing insurer under pressure to limit executive pay.

“You’re not going to get someone to do it for a dollar ayear,” said Chief Executive Officer Edward Liddy in aninterview yesterday after announcing he would step down as soonas the board finds his successor. Liddy agreed to that salaryafter taking over in September when the insurer committed toturning over a majority stake to the U.S. in exchange for abailout.

Read the whole story on Bloomberg or try our Toolbar

blog comments powered by Disqus

The Crisis Isn't California's Alone
May 23rd, 2009 - BusinessWeek
It's been a tough week for the Terminator everywhere but the box office. On May 19, California voters solidly rejected a series of ballot initiatives that would have...
Morgan Stanley to Boost Some Salaries as Bonuses Drop
May 22nd, 2009 - Bloomberg
May 22 (Bloomberg) -- Morgan Stanley will increase base payfor many of the firm’s top executives this year and double thepay of Chief Financial Officer Colm Kelleher as bonus paymentscome under scrutiny from the Obama administration and lawmakers.
An Ode to Ed Liddy
May 22nd, 2009 - Reuters
By chadwick.matlin - The Big Money As the sun set over Wall Street yesterday, Ed Liddy announced he was stepping down as CEO of AIG. It was a quiet announcement, avoiding...
House Republicans back GM bondholders in talks
May 22nd, 2009 - Reuters
WASHINGTON (Reuters) - Four U.S. Republican lawmakers have complained to Treasury Secretary Timothy Geithner that a plan to restructure automaker General Motors Corp subverts the rights of bondholders...
Behind Ed Liddy's Departure from AIG
May 22nd, 2009 - TIME
Ed Liddy, the former head of Allstate who joined AIG (AIG) as chairman and chief executive officer in September quit today. He said he would stay on until the company found a replacement...