AIG Chief Takes Holiday After 2 Days on Job

By Jason Farago,  Newser Staff
Posted Aug 12, 2009 5:57 AM CDT
Robert Benmosche, the new CEO of AIG, is on his way to his 8,000-square foot villa on the Dalmatian coast.   (©karlnorling)
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(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.