News : Business : AIG names new chairman

AIG names new chairman

Wednesday, 20-Sep-2006 08:30AM EDT
Story from United Press International. Copyright 2006 by United Press International (via ClariNet)

NEW YORK, Sept. 20 (UPI) -- American International Group Inc. named Robert B. Willumstad as chairman of the big insurance conglomerate.

Effective Nov. 1 Willumstad, 61, succeeds Frank G. Zarb, who has served as interim chairman since April 2005. Willumstad retired last year as chief executive of Citigroup Inc.

Zarb remains an AIG director and will continue to serve as a non-voting member of each standing committee of the board.

Morris W. Offit will succeed Willumstad as chairman of AIG's finance committee and Michael H. Sutton will succeed Offit as chairman of AIG's audit committee. Offit will continue to serve as a member of AIG's audit committee.

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