American International Group Inc. (NYSE: AIG) said Wednesday that vice chairman and general counsel Anastasia Kelly is resigning due to the government's limits on executive pay, according to Associated Press.
According to the investment company, Kelly left the company because of the reduction in her base salary that was mandated by the government's pay czar Kenneth Feinberg. Companies that received funds from the government’s Troubled Asset Relief Program (TARP) are subject to restrictions including limits on executive pay.
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The government gave AIG a bailout package worth up to $182.5 billion in exchange for an 80 percent stake in the company.
AIG also said its chief compliance and regulatory officer Suzanne Folsom has resigned, but did not give a reason for her departure.
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