AIG Board To Benmosche: Use Your Own Jet, Not Ours

Author:
Publish date:
Updated on

Robert Benmosche, chief executive officer of American International Group Inc., was rebuffed by the insurer's board after saying he should be allowed personal use of the bailed-out company's aircraft, according to two people familiar with the matter.
The board said flights will be limited to business purposes because creating an exception would require approaching the Treasury Department for approval, said one of the people, who asked not to be identified because the talks were private. AIG posted an expense guideline on its Web site this week saying that personal use of corporate jets is "strictly prohibited."

Benmosche Said to Be Rebuffed by AIG Board on Corporate Jet [Bloomberg]

Related