Former MetLife boss takes over from Ed Liddy next week
AIG has named former MetLife boss Robert Benmosche to succeed Ed Liddy as president and chief executive officer from next week.
The move ousts Paula Rosput Reynolds, who was in charge of restructuring the firm.
“AIG and American taxpayers are fortunate to gain the commitment of Bob Benmosche, a highly experienced executive who understands the challenges and opportunities of restructuring complex organisations,” Liddy said.
“Our stakeholders can look forward to a seamless transition and rest assured that the work of rebuilding the value of AIG’s businesses and repaying the government will continue uninterrupted.”
Next phase of restructuring
Dennis Dammerman, chairman of the AIG board of directors’ search committee, said: “Bob’s outstanding track record as head of a major insurer and his success in business integration and execution of major transactions make him well-suited to lead AIG in the next phase of its restructuring.
“We are confident he will continue the substantial progress the company has achieved under the leadership of Ed Liddy.
“Ed answered the call for public service amid an extraordinary financial crisis that has only now begun to ease, and our company and country owe him a debt of gratitude.”
Passed on the baton
Benmosche said: “Ed and his team have done a terrific job stabilising AIG and implementing a strategy to repay the company’s stakeholders, including taxpayers.”
“Now he has passed the baton to me, and I look forward to continuing the race. With my AIG colleagues, we will focus on this mission: maximising the value of the company’s assets and meeting all of our stakeholder obligations.”
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