Anastasia Kelly carries out threat to resign over pay cut
AIG will pay its outgoing general counsel Anastasia Kelly several million dollars in severance after she resigned over federal pay curbs, the Wall Street Journal reports.
AIG believes its in-house lawyer was entitled to the money under the company's severance plan. T says executives can resign and collect severance if their pay is reduced significantly.
In December, Kelly and four other senior executives threatened to quit over potential pay cuts imposed by President Obama’s pay czar Kenneth Feinberg. She hired them special lawyer to advise them. The other four withdrew their threats.
Investigation
AIG's board hired an outside law firm, Orrick, Herrington & Sutcliffe, month to review Kelly's actions.
The WJS said: One person familiar with the report said the review’s findings "can be interpreted in a number of ways." The committee concluded Ms. Kelly's conduct shouldn't prevent her from receiving severance, people familiar with the matter said.
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