It looks like the new AIG (AIG) CEO will get his $7 million bonus and $3.5 million incentive program. A number of shareholders and government officials have questioned why the head of a company that has received $180 billion in taxpayer money should do so well. Robert Benmosche has just joined what was the world's largest insurance company after retiring from MetLife (MET). It is very likely that his tenure in his old job made him millions of dollars. His predecessor at AIG worked for $1 a year.
The Wall Street Journal, in an exclusive report, says that Treasury pay czar Kenneth Feinberg will approve the AIG compensation deal. Apparently Mr. Benmosche has threatened to leave if he does not get what the board offered him.