Insurance and financial services provider American International Group, Inc., or AIG's (AIG), chief executive officer Robert Benmosche has threatened to step down from the top position just after three months in the job, Wall Street Journal reported Wednesday citing people familiar with the matter.
He reportedly told the company's directors at a board meeting last week that he was "done" but agreed to think it over after other board members expressed shock at his announcement.
Benmosche has reportedly expressed frustration with the constraints placed on AIG by the government after the company was bailed out last year.
AIG received a $182 billion funding from the government, and the government owns 80% of AIG since it was rescued. According to the report, Benmosche complained to AIG's board about limitations on compensation imposed on the company following a recent review by the Obama administration's pay czar, Kenneth Feinberg.
"Bob feels he is in an impossible situation," the WSJ quoted a person close to the matter as saying. The newspaper also said that it is not clear if Benmosche actually would resign.
He had reportedly threatened to do so in August before his $10.5 million pay package had been formally approved by Feinberg.
Benmosche, formerly chief executive of MetLife (MET), replaced Edward Liddy as AIG's chief executive in August. A new chief executive would be AIG's third since it received government funding and the fifth in less than 18 months.
AIG is trading at $36.77, down $0.82, on a volume of 692,782 shares.
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