Senator questions severance for former AIG legal chief
January 16th, 2010
In a Jan. 15 letter to the U.S. pay czar Kenneth Feinberg, Sen. Grassely cited recent media reports indicating that Anastasia Kelly will receive between $2.8 million and $3.8 million in severance following her resignation on Dec. 30, 2009.
Ms. Kelly—who was executive vp, general counsel, and senior regulatory and compliance officer for AIG—resigned at the end of the year in protest of the pay limits Mr. Feinberg last year imposed on AIG executives. In a statement earlier this month, AIG said Ms. Kelly resigned for “good reason” under the terms of AIG executive severance plan.
Sen. Grassely asked for several pieces of information, including Ms. Kelly’s salary history, the formula for the severance determination and a copy of AIG’s executive severance plan.
“The taxpayers are fed up with massive payouts to executives at companies that took taxpayer money,” Sen. Grassley wrote. Mr. Feinberg “should account for a multimillion-dollar severance agreement for this AIG executive,” he added.
A spokesman for AIG could not immediately be reached for comment.
For reprints of this story, please contact Lauren Melesio at 212-210-0707 or email lmelesio@crain.com
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