AIG CEO Robert Benmosche Gets $7 Million Salary

by Annina Bergman | August 18, 2009 at 10:02 am

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American International Group (AIG) will pay new CEO Robert Benmosche a salary of $7 million dollars per year. AIG received billions of dollars in bailout money from the government earlier this year. The salary has been approved in principly by Washington's new pay czar Kenneth Feinberg, said AIG.

Robert Benmosche has previously been the CEO of MetLife Inc, and was chosen to take over as the head of AIG after Edward Liddy on August 3. Liddy resigned as CEO in May, after having to defend his decision to pay out $450 million in bonuses to AIG's employees. Benmosche's salary will consist of $3 million in cash, and $4 million in AIG stock.

Yet Benmosche's task may ultimately be tougher than his bailout brethren in the executive suite. AIG is on the hook for more than $150 billion in government cash it must pay back through asset sales -- in a market where there are few if any buyers.

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