AIG Elects Liddy as CEO

American International Group, Inc. (AIG) announced that its board of directors has elected Edward M. Liddy as chairman and CEO.

Liddy, 62, succeeds Robert B. Willumstad. Stephen F. Bollenbach, who was named lead independent director in June 2008, continues in that role.

Liddy joined the private equity firm of Clayton, Dubilier & Rice Inc. this year after serving as chairman of The Allstate Corp. since January 2007. Prior to that, he was Allstate chairman and CEO from 1999 until 2006 and president and chief operating officer from 1994 until 1998. He led the initial public offering and 1995 spin-off of Allstate from Sears, Roebuck and Co. At Sears, Liddy served as senior vice president and chief financial officer and as senior vice president-operating. Prior to that, Liddy was chief financial officer of G. D. Searle & Co.

Source: American International Group

Latest Comments

• October 11, 2008 at 5:19 am

  nadreev says:

  So the current CEO came from Allstate, that explains a lot. Allstate is a dishonest company, your in good hands, NOT! Allstate has a long record of treating their clients li... read more
• September 19, 2008 at 4:19 am

  Nothing's changed says:

  The financial guys took control of the industry in the mid 70's, early 80's & things have not been the same since. We DO need some insurance people back in charge! Probably w... read more
• September 19, 2008 at 3:01 am

  Insurance Guru says:

  Hank Greenberg must be fuming. Liddy led Allstate to the trouble their in now. They needed a good INSURANCE guy/gal to run this new AIG. There aren't many of those around eith... read more