Monday, August 3, 2009

AIG taps former MetLife chief as CEO

Troubled insurer American International Group Inc has chosen former MetLife chief Robert Benmosche as its new CEO, The Wall Street Journal reported, citing people familiar with the matter.

The AIG board approved the choice Monday morning, the newspaper said on its website.

An AIG spokesman was not immediately available to comment. Benmosche would succeed Edward Liddy as AIG chief executive. Liddy joined the company as chairman and CEO last September, within hours of the company getting billions of dollars in support from the U.S. government after nearly collapsing under losses on repackaged mortgages it had guaranteed.

In May, Liddy said he planned to step down once replacements were found to fill the CEO and chairman roles.

AIG shares were down 13 cents, or 1 percent, to $13.01 in late-morning trade on the New York Stock Exchange.

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