New AIG CEO Going on Croatia Vacation

By Sadie Bass

Aug 11, 2009 6:47pm

ABC News’ Matt Jaffe reports: Robert Benmosche, the new CEO of AIG, is going on vacation to Croatia during his first month on the job, a move that might incite public outrage since American taxpayers hold an 80 percent stake in the insurance giant. But a source close to the company told ABC News Tuesday that the vacation should not reflect in any way on Benmosche’s work ethic.   “When the President of the United States goes on vacation, he’s still engaged” in his job, the source pointed out. The Croatia vacation was planned before Benmosche ever took over at the insurance company, the source stated. Even in his first few days on the job, Benmosche has already shown himself to be “completely engaged” and “pouring himself” into his work, something he will continue to do “regardless of where he is,” noted the source. In recent days, the new chief has been meeting regularly with employees and executives. That is not something that will change in Croatia, the source emphasized, citing that computers and telephones will be at Benmosche’s disposal when he is out of the country. Contacted by ABC News on Tuesday, a spokesperson for AIG, the recipient of over $180 billion in taxpayer bailout money, had no comment. “We do not comment on our executives’ schedules,” the spokesperson said.  The insurance giant recently reported a profit during the second quarter of this year, its first quarterly profit since 2007. Benmosche’s trip to Croatia was first reported earlier Tuesday by Bloomberg.

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