AIG Chief Takes Holiday After 2 Days on Job

By Jason Farago, Newser Staff

Posted Aug 12, 2009 5:57 AM CDT

(Newser) – Robert Benmosche has been at the head of AIG for 48 hours now, so naturally it's time for a vacation. The new CEO of the four-times-bailed-out insurer is leaving for his 8,000-square foot villa on the Adriatic for the next two weeks. "It’s probably not a propitious time for an incoming CEO to begin with a vacation," one HR manager tells Bloomberg.

Benmosche is the fifth CEO since 2005 for AIG, which gobbled up $182.5 billion in public money as the financial crisis wore on. His Croatian pad, once home to the treasurer of the king of Yugoslavia, comprises four buildings and has 150 feet of waterfront. An AIG spokesman refused to comment on the new chief's plans, but AIG reported a profitable second quarter last week, after six quarters under water.

Robert Benmosche, the new CEO of AIG, is on his way to his 8,000-square foot villa on the Dalmatian coast. (©karlnorling)

American International Group's offices in New York. (AP Photo/Mark Lennihan, file)

The view from the old town of Dubrovnik, Croatia. (©Maurice King)

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COMMENTS

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Showing 3 of 9 comments

orchide87

Aug 12, 2009 11:03 AM CDT

seriously AIG people are pushing their luck.

IndependentThinker

Aug 12, 2009 8:09 AM CDT

Why the FUCK do we hear about birthers, and disruptions during town halls all day long over and over on every new show/channel, but this will be just a blip on the news screen. Oh I know, cause these guys are the all part of the big business pack and the guys running the news don't want this type of stuff out there.

IndependentThinker

Aug 12, 2009 8:05 AM CDT

It is because we didn't let them go into bankruptcy. That protected all the contracts they made, so they still had to pay all the bills or they would have had to pay more after the court battle. If we would have let them go into bankruptcy (which from the sound of things will happen) the contracts would have been void and needed to be negotiated though litigation.

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AIG Chief Takes Holiday After 2 Days on Job

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OTHER STORIES ON OUR RADAR

executive compensation • Croatia • vacation • AIG • bailout • financial crisis • Wall Street bailout • Robert Benmosche

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

What Bailout? AIG CEO Prefers Making Wine

Under fire for blunt talk, Benmosche pursues real passion: grapes

AIG Agrees to Freeze Executive Bonuses

NY takes tough action to limit payouts to curNewser Newsroom 1.15.0rent, former bigwigs

US Bailout Funds Aided Foreign Firms

Watchdog says TARP spending aided France, Germany

Fed Duo Sounded Alarm Over AIG 'Gifts' to Banks

Geithner, Paulson face grilling over 'backdoor bailouts' for AIG clients

Annoyed by Feds, AIG CEO Threatens to Quit

Benmosche, just 3 months in, is 4th CEO in 18 months

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