DOW JONES NEWSWIRES
American International Group Inc.'s (AIG) board named a new
director Harvey Golub as non-executive chairman.
He will assume the job Monday, succeeding retiring Chairman and
Chief Executive Edward M. Liddy, who took the helm of AIG in
September as the government rescued the company from the brink of
bankruptcy.
On Monday, the insurance giant named Robert Benmosche, the
former chairman and chief executive of MetLife Inc. (MET), as its
new CEO.
Golub, 70, a former chief executive of American Express Co.
(AXP), joined AIG's board in June.
"It is critical that we preserve and protect the value that has
been built over the course of decades in AIG, a unique global
franchise," Golub said in a press release announcing his
appointment Thursday.
Liddy called Golub "one of the most experienced and respected
executives in the financial services industry today."
AIG faces potentially controversial decisions, including whether
to continue paying bonuses to employees in a unit that is
considered largely responsible for the conglomerate's woes and to
executives elsewhere in the company.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357;
Kathy.Shwiff@dowjones.com