American International Group has appointed Peter Zaffino, current President & Chief Executive Officer, as Chairman of its Board of Directors.
As previously announced, Brian Duperreault, currently Executive Chairman, will retire from the Board of Directors at the end of the year.
Doug Steenland, Lead Independent Director commented: “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.
“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.”
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.”
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.”