Han­cock to step down as AIG CEO

New Straits Times - - Business World -

Amer­i­can In­ter­na­tional Group Inc (AIG) said yes­ter­day its chief ex­ec­u­tive of­fi­cer (CEO) Peter Han­cock would step down, a de­ci­sion he made af­ter poor fi­nan­cial per­for­mance frus­trated share­hold­ers and the in­surer’s board of di­rec­tors. Han­cock will re­main as CEO un­til a suc­ces­sor is named. Bil­lion­aire ac­tivist in­vestor Carl Ic­ahn, who is AIG’s fourth­largest in­vestor, cheered Han­cock’s de­par­ture: “We fully sup­port the ac­tions taken to­day by the board of AIG,” he tweeted.

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