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AIG Human Resources Executive Resigns

The company’s vice chairman for legal, HR, corporate affairs and corporate communications leaves because of a TARP-mandated cut in her base salary. Its chief compliance officer also steps down.

January 4, 2010
Related Topics: Financial Impact, Compensation Design and Communication, Competitive Advantage, Latest News
American International Group Inc.’s vice chairman and its chief compliance officer have resigned, the company said Wednesday, December 30.

Anastasia Kelly, vice chairman for legal, human resources, corporate affairs and corporate communications, resigned from AIG effective Wednesday.

Kelly resigned for “good reason” under terms of AIG’s executive severance plan because of the reduction in her base salary that was mandated by Kenneth Feinberg, the Treasury Department’s special master for executive compensation for Troubled Asset Relief Program recipients.

AIG also said Suzanne Folsom, its chief compliance and regulatory officer, has left to pursue other opportunities.

AIG president and CEO Robert H. Benmosche said in a statement that AIG has started a process to find successors to Kelly and Folsom and expects a smooth transition. People who previously reported to Kelly will report to Benmosche in the interim.

AIG said Kelly joined the company as general counsel in September 2006 and was promoted to vice chairman in 2009. Folsom joined AIG in April 2008.

Filed by Judy Greenwald of Business Insurance, a sister publications of Workforce Management. To comment, e-mail
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