AIG Names Eric Andersen as New CEO in Leadership Succession Plan

Key Facts

1American International Group appointed Eric Andersen as President and CEO, effective June 1, 2026.

2Current CEO Peter Zaffino will transition to the role of Executive Chair of the Board.

3AIG's stock has declined 11.7% year-to-date.

American International Group (AIG) has officially appointed Eric Andersen as its new President and CEO, effective June 1, 2026. This transition follows a pre-established succession plan, with current CEO Peter Zaffino set to move into the role of Executive Chair of the Board. The leadership shuffle is designed to ensure strategic continuity and maintain the momentum of the firm's long-term corporate objectives. However, the transition comes at a challenging time, as AIG's stock has declined by 11.7% year-to-date. Analysts view this planned transition as a neutral event for the market, though the incoming CEO will face pressure to reverse the recent downward trend in share price. This move underscores AIG's commitment to a structured governance framework within the insurance industry.