American International Group announced that Donald P. Kanak, executive vice chairman and chief operating officer, has resigned his post and from the company board for personal reasons.
AIG said although Mr. Kanak's resignation is effective Jan. 31 he will remain with the company for the next few months to assist in a smooth transition of his responsibilities and to provide advice to management.
Mr. Kanak joined AIG in 1992 in Japan and later became president and chief executive officer of AIG's companies in Japan and Korea. He was named to his current position last year.
The New York-based insurer also announced that the board of directors has elected Fred H. Langhammer and Robert B. Willumstad to join the board.
Mr. Langhammer, 62, served as CEO of The Est?e Lauder Companies Inc. from 1999 to 2004, and as president and chief operating officer of the company from 1995 to 1999. Currently, he is chairman of global affairs of Est?e Lauder.
Mr. Willumstad, 60, recently retired as president and COO of Citigroup Inc. He was a member of the Citigroup management and business heads committee and of the Citigroup board of directors. Earlier, Mr. Willumstad served as chairman and CEO of the Global Consumer Group at Citigroup.
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