AIG name Liddy as new CEO and chairman

by Richard Kilner

Story link: AIG name Liddy as new CEO and chairman

The world’s largest insurer, AIG (American International Group), has announced that its Board of Directors has chosen a new chief executive officer and chairman.

Edward M. Liddy, 62, will take on the two positions, succeeding Robert B. Willumstad.

The firm’s independent director, Stephen F. Bollenbach, is to retain the post which he has occupied since June this year.

During his lengthy career Liddy has held a number of posts with a wide range of firms.

Earlier this year he joined Clayton, Dubilier & Rice, a private equity firm, prior to which he served with The Allstate Corporation as chairman.

With Sears, Roebuck and Co. he worked as CFO and senior VP, and has also been the chief financial officer of G. D. Searle & Co.