Reply #35: Report: AIG CEO ready to quit over pay limits

[Amerigo Vespucci]

Source: MSNBC

NEW YORK - After just three months as head of embattled insurer American International Group, Robert Benmosche has threatened to leave his post as he struggles to deal with heavy government oversight and restrictions on what the bailed-out company can pay employees, according to a published report.

Citing unnamed people familiar with the matter, The Wall Street Journal reported online late Tuesday that Benmosche told AIG's board he was "done" with the job, although he reportedly is reconsidering his stance in the face of the board's dismay.

Shares of AIG fell 98 cents, or 2.6 percent, to $36.61 in premarket trading Wednesday.

According to the people cited by the Journal, the former MetLife CEO is frustrated with the constraints of leading a company majority-owned by the government. The newspaper said Benmosche has complained to AIG's board about the outcome of the Treasury Department's pay review which slashed pay for a number of AIG executives by 91 percent from 2008.

Read more: http://www.msnbc.msn.com/id/33854913/ns/business-us_business/

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Nov. 11: AIG CEO Robert Benmosche is reportedly threatening to leave his post. CNBC's Mary Thompson has the details.