The American International Group (AIG) has announced that Peter Zaffino, President and CEO, will take on the additional role of Chairman of the Board of Directors effective January 1. Zaffino (pictured above) will succeed current Executive Chairman Brian Duperreault, who will take over at the end of 2021.
“The AIG Board of Directors has great confidence in Peter’s ability to continue AIG’s transformation and growth strategy that is aimed at creating long-term, sustainable value,” said Doug Steenland, Lead Independent Director at AIG. “Peter’s move to the CEO role in March 2021 was seamless and the company is developing exceptionally well. His leadership role is highly valued by the board of directors, the insurance industry and the company’s many stakeholders. “
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“Peter played an indispensable role in AIG’s turnaround, and his unwavering focus, strength of character, integrity and strategic vision will drive AIG’s continued success,” said Duperreault.
“I am grateful for the support of our board of directors, the strength and the many contributions of our leadership team, and the hard work and dedication of our colleagues around the world,” said Zaffino. “Our commitment to underwriting and operational excellence, and delivering solutions and value in everything we do, has been an important part of our journey to become a global industry leader. I’m proud of what our team has achieved over the past few years, and I’m excited to see what the future holds for AIG and our many stakeholders. “