AIG has announced a major executive shake-up in the light of ongoing probes by US...
AIG has announced a major executive shake-up in the light of ongoing probes by US authorities.
The insurer's board has established two new committees: a regulatory, compliance and legal committee, and a public policy and social responsibility committee.
The board also said it had “reconstituted” its executive committee. Martin Sullivan, AIG's president and chief executive, has replaced Frank Zarb as chairman of the executive committee panel. Zarb has been named interim chairman of the group.
Two new directors have also been elected to AIG's board. George Miles, president and chief executive of WQED Multimedia and Morris Offit, co-chief executive of Offit Hall Capital Management.
The new appointments ensure that over two-thirds of AIG's directors are outsiders, Zarb said.
