AIG's Benmosche: I'm Not Quitting

CEO is 'committed' to firm's employees
By Nick McMaster,  Newser Staff
Posted Nov 11, 2009 3:00 PM CST
In this Sept. 17, 2008 file photo, the AIG logo is shown in New York.   (AP Photo/Mark Lennihan, file)

(Newser) – AIG CEO Robert Benmosche isn’t fed up with running a government-controlled insurance giant after all: Backing away from his threat to quit, Benmosche said today that he remains "totally committed” to the company. The CEO conceded, however, that he and the board “are indeed frustrated” with the government’s restrictions on compensation, which he called a barrier to “restoring AIG’s value,” the Wall Street Journal reports.

"Let me be clear: I and the board remain totally committed to leading AIG through its challenges and continuing to fight on your behalf," he wrote in a memo to employees.