American International Group announced that Peter Zaffino will step down as Executive Chair and board member effective September 15, 2026, transitioning to a Senior Advisor role, with John Rice, the Lead Independent Director, elected as the new Chair of the board. Rice, who has served on the board since March 2022 and as Lead Independent Director since January 2023, will assume the chairmanship on the same date. Zaffino, who became Executive Chair earlier this year, will continue to support the leadership transition as Senior Advisor, working with President and CEO Eric Andersen and the board. Rice brings extensive experience from his previous roles at General Electric, including as Vice Chairman, and currently serves on the board of Baker Hughes Company.
American International Group IncLeadership transition announced; impact on company unclear.
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