American International Group Inc. has lost a top executive due to the government's limits on executive pay.
AIG said Wednesday that vice chairman and general counsel Anastasia Kelly has resigned, effective immediately.
Kelly left because of the reduction in her base salary that was mandated by the government's pay czar, Kenneth Feinberg, AIG said.
Companies like AIG that hold government bailout funds are subject to restrictions including limits on executive pay; in AIG's case, that's the insurer's 100 highest-paid employees. The government has given AIG a bailout package worth up to $182.5 billion in exchange for an 80 percent stake in the New York-based company. MSNBC
Wednesday, December 30, 2009
AIG Exec Quits After Her Pay is Cut
Anastasia Kelly must be someone special and precious if she's actually QUITTING a job. She's going to get $2.8 million in severance. I could live comfortably the rest of my days on half of that: