(Bloomberg) — The leadership transition at insurer American International Group Inc. is like switching generals after winning a war, Chairman Steve Miller said today.
“We're changing generals as we move from wartime to peacetime,” Miller, 72, said today in an interview with Bloomberg Television's Betty Liu.
Peter Hancock, 56, yesterday replaced Robert Benmosche, who departed after five years as chief executive officer of New York-based AIG. Benmosche, 70, started at the insurer less than a year after the firm's 2008 taxpayer bailout, which swelled to $182.3 billion. AIG finished repaying the rescue in 2012.
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