AIG (AIG) CEO Robert Benmosche wants to make it clear that many of his senior staff have made tremendous financial sacrifices in the insurance firm's restructuring. This isn't simply due to salary cuts by the government's pay czar. Many top AIG executives have also lost all the money they had in AIG stock.
Benmosche toldThe Wall Street Journal that "10 individuals who report directly to him have lost a combined $168 million in prior years' pay since the U.S. bailout of AIG in September 2008." Many of the losses stemmed from stock options and unvested shares.