7 Companies Paying Their CEOs More Than the Taxman

They made more in 2011 than their companies paid in federal income tax

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#2: American International Group

  • CEO: Robert Benmosche
  • Global profits: $17.8 billion
  • Corporate income tax: -$208 million
  • CEO pay: $14 million
  • Stock change: -60.03%

robert benmosche 290 7 Companies Paying Their CEOs More Than the TaxmanRobert Benmosche has been credited with turning around AIG (NYSE:AIG), beginning when he joined the insurance giant in 2009. After a series of CEOs who replaced icon Hank Greenberg — AIG had three CEOs from 2005 until Benmosche joined — AIG continued to be in nearly as much trouble as it was at the start of the financial crisis. The federal government eventually made available $182.5 billion in credit facilities and stock purchases to aid the company. AIG largely dismantled itself through a series of sales of large divisions to raise money to pay taxpayers back in part. Benmosche had been CEO of MetLife at the time the government bailed out AIG, so he probably had little financial incentive to take the reigns over at the insurance behemoth. The Treasury continues to return its investment in AIG to taxpayers through ongoing sales of AIG stock it owns.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/7-companies-paying-their-ceos-more-than-the-taxman/.

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