GC Kelly Likely To Leave AIG Over Pay Smackdown
11th December 2009
The looters dump the producers.
Kelly, who has also served as GC at Fannie Mae, Sears, and MCI/Worldcom, is one of the more experienced and well-respected in-house lawyers in the country — and was serving as vice chairman at AIG, a rarity for a GC. If she leaves AIG soon, writes the NYT, “her departure would come at a time when the company needs experienced counsel to complete its restructuring, shepherd it through myriad legal proceedings, and prepare prospectuses for the anticipated initial public offerings of its subsidiaries.”
Joining Kelly in her decision to leave are four other senior officials of the company, who have had their compensation reduced earlier this year by the Treasury Department’s special master for compensation, Kenneth Feinberg.
My, what a surprise. Aren’t you surprised? I’m sure surprised.