AIG HR Chief Steps Down
December 31, 2009
(PLANSPONSOR.com) - Anastasia Kelly, who supervised the human resources unit at American
International Group (AIG), has left the company over a compensation dispute.
An
AIG news release said Kelly, who also managed the company’s legal, corporate
affairs and corporate communications departments, stepped down from her post as
of Wednesday.
The
company said Kelly was contesting the reduction in her base salary as mandated
by Special Master for Executive Compensation for TARP Recipients
Kenneth Feinberg.
Earlier this month, Feinberg capped annual cash salaries for most
executives at the companies that received the biggest bailouts at $500,000,
which would have reduced Kelly's pay "significantly," according to
the Wall Street Journal.
In
addition, AIG announced that Suzanne Folsom, chief compliance and Regulatory
Officer, has left “to pursue other opportunities.”
Robert
H. Benmosche, AIG president and chief executive officer said in the
announcement that AIG expects a smooth transition and has started the search to
replace both women. In the meantime, executives previously reporting to Kelly
will report to Benmosche.
Kelly joined AIG in September 2006 as general counsel,
responsible for the global legal, compliance and regulatory functions. She was
promoted to vice chairman earlier this year.
Fred Schneyer
editors@plansponsor.com