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What would AIG’s next CEO need to step into the position?

The new leader will need to restore credibility to a company that missed profit targets and has been draining talent for a decade.

By Anders Melin, Sonali Basak | Updated on March 20, 2017
Peter Hancock, who is staying on until a successor is found, had reported compensation of $12.5 million in 2015, among the lowest for CEOs at industry peers. (AP image)

(Bloomberg) — American International Group Inc.’s new chief executive officer can expect to deal with a volatile industry, pressure from ratings firms and a restless board. And if the past is any guide, the new leader won’t get an industry-leading compensation package for the trouble.

Peter Hancock, who is staying on until a successor is found, had reported compensation of $12.5 million in 2015, among the lowest for CEOs at industry peers. Dan Glaser, the head of broker Marsh & McLennan Cos. who is seen as a potential replacement at AIG, got $15.6 million. Mike McGavick received $12.7 million from XL Group Ltd. and told staff there that he isn’t interested in the AIG job.

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