It's been a difficult year. There were times that AIG CEO Bob Benmosche wanted to scream, to threaten to do terrible things to the bureaucrats who were cramping his style, to shout, "I quit, I'm out of here, I'm going to Croatia to tend to my vines, and screw all of you little-dicked jerks." And there were times when he in fact did all of those exact things. But then somehow, he made it through.
Benmosche, 66, will begin his 12th month leading New York- based AIG in July. That is longer than predecessors Edward Liddy, who retired after about 11 months in August 2009, and Robert Willumstad, who was ousted after fewer than 100 days as a condition of the insurer’s 2008 government rescue. "Given that he survived 12 months, I’d say Benmosche learned very quickly that this is not just another CEO job,' said Phillip Phan, professor at the Johns Hopkins Carey Business School in Baltimore. 'He has to create a more sustainable, smaller operation, to move away from derivatives, and he’s having to do it all in the public eye."
Thanks, Baltimore. Look for a case of Zinfandel in the mail.
AIG’s Benmosche Outlasts Predecessor Liddy in CEO ‘Hot Seat’ [Bloomberg Businessweek via Dealbreaker]