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Update at 1705 hrs (IST)


Global News / Markets
AIG CEO Benmosche mulls stepping down

NEW YORK: Troubled insurer American International Group’s Chief Executive Officer Mr Robert Benmosche is considering stepping down from his post just three months after he took the job.

According to a report in The Wall Street Journal citing people familiar with the matter, Mr Benmosche has told the board that he is thinking about leaving the post of AIG CEO.

At a board meeting last week, he told fellow AIG directors that he was “done’’ but agreed to think it over after other board members reacted with shock, the report stated.

“The executive is chafing under constraints imposed by AIG’s government overseers, particularly a recent compensation review by the Obama administration’s pay czar, Mr Kenneth Feinberg,’’ WSJ said citing people close to the development. — PTI

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