AIG CEO Brian Duperreault's Pay Totaled $20.9 Million in 2018
April 02 2019 - 5:22PM
Dow Jones News
By Patrick Thomas
American International Group Inc. Chief Executive Brian
Duperreault's pay was cut in half from a year earlier when his
compensation package included a $12 million sign-on bonus.
In his first full year as CEO, Mr. Duperreault earned $20.9
million, compared with $43.1 million in 2017, according to the
company's newest proxy filing.
Mr. Duperreault was paid a salary of $1.6 million, up from the
$1 million he was paid for his 7 1/2 months of service in 2017. He
had long-term-incentive stock awards valued at $11.8 million, up
from $11.2 million a year ago. He earned about $3 million of the
$3.2 million available to him in a short-term incentive award, due
to the company's stock falling roughly 34% in 2018.
Mr. Duperreault 's 2017 pay included two awards totaling about
$28.2 million, including the $12 million sign-on bonus, to lure him
from Hamilton Insurance Group Ltd., a Bermuda-based
property-casualty insurer and reinsurer that he founded in
2013.
Mr. Duperreault took over AIG -- the same firm where he started
his career -- in May 2017. Former CEO Peter Hancock stepped down in
March of that year under pressure from activist investors as his
turnaround plan suffered setbacks.
AIG's compensation for its top executives fell across the board.
The insurer's chief investment officer's pay fell roughly 32% to
$9.7 million and its operating chief's pay declined about 29% to
$12.6 million.
The median compensation for 132 chief executives of S&P 500
companies reached $12.4 million in 2018, according to a Wall Street
Journal analysis.
Write to Patrick Thomas at Patrick.Thomas@wsj.com
(END) Dow Jones Newswires
April 02, 2019 17:07 ET (21:07 GMT)
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