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Peter Zaffino to Assume Additional Role of Chairman of the AIG Board of Directors Effective January 1, 2022
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
American International Group (NYSE: AIG) has announced that Peter Zaffino will take on the role of Chairman of the Board of Directors effective January 1, 2022. He currently serves as President and CEO, a position he transitioned to in March 2021. The change follows Brian Duperreault's retirement from the Board at the end of 2021. The Board expresses strong confidence in Zaffino's leadership to drive AIG's transformation and growth strategy aimed at sustainable value creation.
Positive
Peter Zaffino's seamless transition to CEO in March 2021 illustrates strong leadership continuity.
The Board's confidence in Zaffino's capabilities suggests a positive outlook for AIG's growth strategies.
Negative
Brian Duperreault's departure raises potential concerns regarding leadership continuity.
NEW YORK--(BUSINESS WIRE)--
American International Group (NYSE: AIG) today announced that Peter Zaffino, President & Chief Executive Officer, will assume the additional role of Chairman of the Board of Directors, effective January 1, 2022. As previously announced, Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at year end 2021.
Peter S. Zaffino (Photo: Business Wire)
“The AIG Board of Directors has great confidence in Peter’s ability to continue executing on AIG’s transformation and growth strategy designed to create long-term, sustainable value,” said Doug Steenland, Lead Independent Director. “Peter’s transition into the CEO role in March 2021 was seamless and the company is performing exceptionally well. His leadership is highly respected by the Board, the insurance industry and across the company’s many stakeholders.”
Mr. Duperreault said: “Peter has played an indispensable role in AIG’s turnaround and his unwavering focus, strength of character, integrity and strategic vision will drive AIG’s continued success.”
Mr. Zaffino said: “I am grateful for the support of our Board of Directors, the strength and many contributions of our executive team, and the hard work and dedication of our colleagues across the globe. Our commitment to underwriting and operational excellence, and delivering solutions and value in everything we do, has been an important part of our journey to be a global industry leader. I am proud of what our team has accomplished over the last several years and very excited about what the future holds for AIG and our many stakeholders.”
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American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
