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AIG Trustees Ask Liddy to Develop Compensation Plan by Year-End

Posted on 12 May 2009

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American International Group Inc.'s three trustees, appointed to oversee the government's stake in the insurer, have asked Chief Executive Officer Edward Liddy to develop a new employee-compensation plan by year-end.

"The compensation program should be designed to reward long-term, sustainable value creation," the trustees said in prepared testimony to the House Committee on Oversight and Government Reform. The trustees are scheduled to testify tomorrow about the New York-based insurer.