leadership
confidence high
sentiment neutral
materiality 0.60
AIG Executive Chair Peter Zaffino Steps Down Sept 15; John Rice Named Chair
AMERICAN INTERNATIONAL GROUP, INC.
- Effective Sept 15, 2026, Peter Zaffino steps down as Executive Chair and board member; becomes Senior Advisor to CEO Eric Andersen.
- John Rice, AIG's Lead Independent Director since Jan 2023, elected Chair of the Board effective same date.
- Rice has been on AIG board since March 2022; previously GE Vice Chairman; current Baker Hughes board member.
- Amendment to Zaffino's employment agreement confirms no compensation change; transition is not termination for cause/good reason.
- Zaffino cites 'next chapter' for leadership; no disagreement with AIG board or management noted.