Zaffino lands top three positions at AIG after 'exceptional' role in turnaround

Peter Zaffino (pictured) has been handed an additional role at global insurance conglomerate  American International Group (AIG), which is said to be performing "exceptionally well" since he took over as chief executive officer (CEO) from Brian Duperreault at the start of March.

Zaffino will assume the role of chairman of AIG's board of directors, effective January 2022, in addition to being the president and CEO of the company.

Duperreault, former CEO and currently executive chairman of AIG, will retire from the board of directors at year end 2021.

Duperreault said: “Peter has 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.”

Doug Steenland, lead independent director at AIG, echoed Zaffino's appreciation, saying that AIG's board has great confidence in his ability to continue executing on AIG’s transformation and growth strategy and create long-term, sustainable value.

“Peter’s transition into the CEO role in March 2021 was seamless and the company is performing exceptionally well. His leadership is highly respected by the Board, the insurance industry and across the company’s many stakeholders,” he added.

Zaffino highlighted the company's commitment to underwriting and operational excellence, adding that he was grateful for the support of the board of directors, and many contributions of the executive team in making AIG a global industry leader. “I am proud of what our team has accomplished over the last several years and very excited about what the future holds for AIG and our many stakeholders,” he said.

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