|
|
Article: Government limits executive pay at AIG; Move not expected to hamper efforts to keep key staff.(NEWS)
- Article from:
- Business Insurance
- Article date:
- October 26, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: JUDY GREENWALD and MARK A. HOFMANN
The federal government's move to sharply cut compensation for a dozen American International Group Inc. executives could create more complications for the embattled company, some observers say.
The special master for executive compensation unveiled the plan last week to cut top-level salaries of targeted firmsincluding AIGthat received "exceptional assistance from the government's Troubled Asset Relief Program.
Some experts said the move will hurt retention and recruitment at New York-based AIG. But others said the announcement came as little surprise, and noted that those executives who were likely to ...