Martin Sullivan to succeed MR Greenberg as CEO of AIG

Mumbai: The board of directors of American International Group Inc. (AIG) has announced its management succession plan with the election of Martin J Sullivan as president and chief executive officer, succeeding MR Greenberg, 79, who has been designated non-executive chairman. Sullivan, 50, vice chairman and co-chief operating officer, AIG, has been with the company for over 30 years. The succession was announced by Frank G Zarb, chairman of the executive committee of the board.

The other senior appointments include Donald P Kanak, 52, executive vice chairman and chief operating officer, Asia; Edmund SW Tse, senior vice chairman, life insurance; Steven J Bensinger, 50, executive vice president, chief financial officer, treasurer and comptroller, succeeding Howard I Smith, 60.

AIG is the world's leading international insurance and financial services organisation, with operations in more than 130 countries.