NU Online News Service, Dec. 23, 10:25 a.m. EST
American International Group Inc. (AIG) Chief Executive Officer Robert Benmosche has told the company he wants to keep leading it beyond next year.
At the start of 2011 Benmosche, who has cancer, said he received a favorable prognosis from doctors and would remain in his position with the company until his scheduled retirement sometime in 2012.
Benmosche told The Wall Street Journal he has spoken to the board and told them that he would like to stay on beyond 2012.
“I want to stay active and energized, and having too much time on my hands is not healthy, I think,” he said in an interview with the Journal.
“Mr. Benmosche has said that, health-willing, he wants to continue to work toward the taxpayers recouping their investment in AIG and being the most valuable insurance company in the world,” AIG spokesman Mark Herr said in a statement.
While announcing second-quarter net income of 1.8 billion, Benmosche said AIG—the recipient of a $182 billion bailout from the government to prevent the company's collapse in 2008—had “turned the corner and our crisis is over.”
Benmosche, president and CEO of AIG—the beneficiary of a $182 billion bailout from the government in order to avoid collapse in 2008—told CNBC that AIG has “turned the corner and our crisis is over.”
The company's momentum was to provide a catalyst for the U.S. Treasury to begin selling its 77 percent stake in the insurer, but AIG shares have fallen sharply and the government needs the price to improve in order to return a profit for taxpayers.
AIG reported a third-quarter loss of $4.1 billion, driven by declines in equity markets, widening credit spreads and lower interest rates but the CEO assured analysts that AIG was in “very good shape.”
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