AIG names Miller as Benmosche understudy

AIG has said that its chairman, Steve Miller, would take over as interrim CEO of the firm in the event that current CEO Bob Benmosche becomes too unwell to perform his role.

AIG announced on Tuesday that Benmosche had been diagnosed with cancer.

If Benmosche became unwilling or unabel to perform his role, Miller would assume the interim CEO role until a permanent successor for Benmosche was found. “The Board intends to review its selection criteria for the next CEO and will continue to discuss succession planning. The choice of a long term successor to the CEO will include a fair evaluation of internal candidates as well as external candidates. The process would then be concluded when, over the next two years, it is appropriate to name Bob’s eventual successor," AIG said in a statement.

However the compamny stressed that, despite the diagnosis, it had no reason to believe he would be unable to carry out his duties. Benmosche has previously committed to toe board that he would remain CEO until AIG had completed its taxpayer obligations, currently expected to be some time in 2012. "Bob feels fine, continues to work a normal schedule, and the Board continues to assume that Bob will remain CEO on this timetable," the company said.