Robert Benmosche: Chairman Goes or I Go


AIG may irritate you, but not half as much as it irritates the company's CEO, Robert Benmosche. Hardly a day goes by, it seems, that Bob doesn't say to himself, "Bob, why the hell did you have to take over one of the world's most screwed-up companies for a measly $10.5 million when you could be in Croatia, tending your vines and getting your tan on?" Occasionally, as we know Bob's resentment bubbles over and he acts out. This is apparently what happened June 25, after board chairman Harvey Golub nixed Bob's plan to sell the company's main Asia unit.

According to Bloomberg:

American International Group Inc. Chief Executive Officer Robert Benmosche last week threatened to resign unless the bailed-out insurer’s chairman, Harvey Golub, leaves the firm, said two people with knowledge of the matter. “It’s a boardroom battle of the highest order, a battle of big egos,” said Phillip Phan, professor at the Johns Hopkins Carey Business School in Baltimore. “Benmosche’s staked his reputation on this, and it’s an issue if he feels he will be undermined because the board didn’t back their CEO.”

In other words, nobody puts Bobby in a corner.

AIG's Benmosche Said to Threaten to Resign Unless Golub Quits [Bloomberg]