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Insurance

AIG chief denies report he'll resign

November 12, 2009|Times Wire Reports

American International Group Inc. Chief Executive Robert Benmosche said he remains "totally committed" to leading the bailed-out insurer after reports that he told the board he may step down.

Benmosche made the comment in a letter to employees after the Wall Street Journal said he told directors last week he might resign because of U.S. limits on employee compensation. Benmosche, who came out of retirement in August to lead New York-based AIG, told employees he is "frustrated" with limits on what the company can pay its top 100 executives.

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