• 18 Jun 2010 at 11:21 AM

AIG Reaches Incredible Milestone

The little CEO that could.

They said it couldn’t be done. They laughed when people suggested otherwise. They had good money riding on it, fact. They were wrong. And so today, we need to give a little credit where a little credit is due. A lot, in fact. Today, we need to give it up for AIG. Specifically, to the man at the top. Bobby “I’m gonna do unspeakable things to Andrew Cuomo” Benmosche, who’s achieved something so huge, it must be noted, and perhaps even toasted later today when his employees cut out early for 2for1′s. Have the taxpayers gotten their money back? No. Think bigger and wayyy more momentous.

Robert Benmosche is set to become the insurer’s longest-serving chief executive officer since the firm’s near-collapse in 2008. Benmosche, 66, will begin his 12th month leading New York- based AIG in July. That is longer than predecessors Edward Liddy, who retired after about 11 months in August 2009, and Robert Willumstad, who was ousted after fewer than 100 days as a condition of the insurer’s 2008 government rescue. AIG was bailed out after losses on derivatives tied to mortgages.

“Given that he survived 12 months, I’d say Benmosche learned very quickly that this is not just another CEO job,” said Phillip Phan, professor at the Johns Hopkins Carey Business School in Baltimore. “He has to create a more sustainable, smaller operation, to move away from derivatives, and he’s having to do it all in the public eye.”

AIG’s Benmosche Outlasts Predecessor Liddy in CEO ‘Hot Seat’ [BW]

20 comments (hidden to protect delicate sensibilities)
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Comments (20)

  1. Posted by Anonymous | June 18, 2010 at 11:23 AM

    I thought you were going to say he got into Wee Burn.

  2. Posted by guest | June 18, 2010 at 11:24 AM

    What’s the over/under?

  3. Posted by Anonymous | June 18, 2010 at 11:27 AM

    He could suck the black off a telegram boy.

  4. Posted by guest | June 18, 2010 at 11:29 AM

    @gherkin tsk, tsk.

  5. Posted by Anonymous | June 18, 2010 at 11:33 AM

    …he looks so illegal in that pic…

  6. Posted by b2b MD | June 18, 2010 at 11:37 AM

    Getting an MBA from the Carey Business School is the new killing it

  7. Posted by Anonymous | June 18, 2010 at 11:39 AM

    That is incredible. The guy deserves some vacation time.

  8. Posted by Anonymous | June 18, 2010 at 11:54 AM

    Look at the fat fucker. Just look at ‘em. Just sittin there being a fat fucker.

  9. Posted by Anonymous | June 18, 2010 at 12:01 PM

    2- on the size of his prostate?

  10. Posted by Anonymous | June 18, 2010 at 12:08 PM

    Amazing comeback today – U-S-A!!!U-S-A!!!U-S-A!!!U-S-A!!!U-S-A!!!U-S-A!!!

  11. Posted by Anonymous | June 18, 2010 at 12:20 PM

    too bad USA was robbed

  12. Posted by Anonymous | June 18, 2010 at 12:22 PM

    Apparently “not being fired” is the new killing it.

  13. Posted by Anonymous | June 18, 2010 at 12:26 PM

    Well, first off I want to thank everybody in my hood… (unintelligible blathering)… My wife, my family, my kids, everybody… My psychiatrist, she helped me relax a lot… thank you, uh, and my single comin out! Man, talk to me I got a single it’s called “Champion”. I got a song called “Champion”, LAST JUNE… (unintelligible)… And the single’s coming out! I’m sorry, thank you very much. OHHH!!!

  14. Posted by Anonymous | June 18, 2010 at 12:43 PM

    Being a fake CEO is the new killing it

    http://www.cnbc.com/id/37759560/

  15. Posted by OptionsTrader | June 18, 2010 at 1:00 PM

    Is anyone going to watch the England game today?

    @11 USA got robbed because countries don’t like us winning in THEIR sports.

  16. Posted by Anonymous | June 18, 2010 at 1:29 PM

    @15 – Agreed.

  17. Posted by plang1 | June 18, 2010 at 2:47 PM

    aig is no longer to big to fail.as soon as obama can be replaced it will be on the long list of things his replacement needs to correct along with closing the disgrace GM and getting rid of his ridiculous healthcare plan!

  18. Posted by Anonymous | June 18, 2010 at 2:55 PM

    @15. Too busy. Currently re-tasking some UAVs from Sudan to Mali.

  19. Posted by Bristol Airport Hotels | April 19, 2012 at 11:29 PM

    byESpQ I cannot thank you enough for the post.Really thank you! Want more.

  20. Posted by interpretation | April 25, 2012 at 1:16 PM

    Very neat blog article.Thanks Again. Will read on…