Leadership & Pay ·
American International Group announced that Executive Chair Peter Zaffino will step down from his role as Executive…
AIGAmerican International Group, Inc.
American International Group announced that Executive Chair Peter Zaffino will step down from his role as Executive Chair and Board member on September 15, 2026, transitioning to a Senior Advisor position. Concurrently, Lead Independent Director John Rice was elected to serve as the new Chair of the Board effective the same date. The company confirmed that these leadership changes do not constitute a termination without cause or for good reason under Zaffino's employment agreement and will not alter his compensation. This governance transition is not due to any disagreement with management or operations. American International Group operates in the global insurance industry, providing property, casualty, and other insurance solutions to businesses and individuals.