George S. May Business Blog

AIG exec quits over government enforced pay restriction

An AIG executive has reportedly quit due to the government’s limit on executive pay. AIG said yesterday that Anastasia Kelly, vice chairman and general counsel, is resigning 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.

Related posts:

1. Pay czar, Ken Feinberg, strikes again The BBC is reporting that Kenneth Feinberg, also known as the US executive “pay czar”, will extend the already set limits on executive pay for...


2. Top exec at IBM put on leave for insider-trading scandal Robert Moffat, a top executive at IBM Corp., has been placed on leave after being charged in an insider trading scandal. Allegedly, Moffat had been...


3. Wells Fargo exec, Cheronda Guyton, fired after accusations of squatting in foreclosed home I recently posted a review of an article I found in the LA Times about Cheronda Guyton, a Wells Fargo exec who had been using...


4. Wells Fargo exec caught squatting in a Malibu home I came across this story in the LA Times and I have to say, this is despicable and rude. Allegedly, Cheronda Guyton, an executive who oversees...


5. Should the Government Get a Raise? The recent crisis and pending solution for Greece’s economic troubles have a lot of people wondering: how much can be saved by cutting government spending?...