(Reuters) – On Tuesday, American International Group Inc. said it paid USD 20.9 million to CEO Brian Duperreault in 2018, while outlining a series of reforms to the shareholder criticism wage procedure.
The wage Duperreault's first full year at the insurance business route was less than half of the $ 43.1 million he received in 2017, which included a $ 12 million cash bonus and other one-off rates.
At the annual meeting in 2018, only 62% of the shareholders' votes supported wages, an unusually low number compared to the approximately 95% support that large US companies normally receive in such votes. The so-called ongoing votes are unbound, but low results often lead to the members trying to lose their own places.
AIG now hopes to win over some of the skeptical investors at this year's annual meeting on May 21
Mr. Duperreault, who is known in the insurance industry as a turning expert, took responsibility for AIG in May 2017.
In its authorization, which was submitted on Tuesday, AIG noted a number of measures that it took in response to the shareholder groups, including binding executive pay more directly to share performance.
For example, the company said that although Duperreault could have achieved a short-term incentive fee of $ 3 456 million, the board reduced it to $ 3.04 million to reflect "shared liability" for overall
Other changes include an initiative for to increase the diversity of the board members and ensure that board members who are also the CEO and in the nomination committee this year serve on only one external board.