Anatomy of an AIG payday
When AIG earlier this month asked shareholders to approve an extra $50mn pay award in shares for its boss, the answer was a resounding “we’d advise you to get in the sea”:
The blockbuster payout for Peter Zaffino (whose total salary in 2021 and 2020 reached $21.9mn and $24mn respectively), was set to be a flashpoint, with proxy heavyweights Glass Lewis and ISS both giving it the thumbs down ahead of the shareholder vote (mainFT’s Ian Smith had a curtainraiser here).
We can’t imagine why they decided to ditch the percentage.
This story originally appeared on: Financial Times - Author:Louis Ashworth
