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Peter Hancock to replace Bob Benmosche at AIG

  • Currently the CEO of AIG Property Casualty, Peter Hancock will replace Bob Benmosche as AIG CEO, effective September 1. Hancock will also join the AIG board and Benmosche is expected to resign from his role as a director.
  • The succession is a little earlier than expected, but Hancock was thought to be the leading candidate to take over the CEO role.
  • Source: Press Release
Comments (8)
  • JayXu
    , contributor
    Comments (266) | Send Message
     
    So, is this good or bad??
    10 Jun, 04:54 PM Reply Like
  • heyo
    , contributor
    Comments (57) | Send Message
     
    depends, who is peter hancock?
    10 Jun, 04:55 PM Reply Like
  • NY Dan
    , contributor
    Comments (3) | Send Message
     
    He's the CEO of AIG's P&C division
    10 Jun, 11:33 PM Reply Like
  • skipmac
    , contributor
    Comments (48) | Send Message
     
    Knew of Peter Hancock when I worked for JPM. Very smart and very impressive, and that was when he was really young.
    10 Jun, 05:31 PM Reply Like
  • crabbyjim
    , contributor
    Comments (23) | Send Message
     
    Benmosche has done a great job of leading AIG out of the disaster of 2008 and the stock has more than doubled under his leadership. He has invested heavily in technology and efficiencies. He was diagnosed with cancer in 2010 and possibly is retiring sooner than expected for health reasons. Peter Hancock appears to be a well prepared successor. He wouldn't be in line to be the next CEO if Benmosche didn't approve of him. Barron's has written a couple of positive articles about AIG and says that stock could top $100 in 5 years. I'm in for the ride up.
    10 Jun, 10:52 PM Reply Like
  • Ajayyy
    , contributor
    Comments (327) | Send Message
     
    I think this is good news. An expected bit of news but still good to have it over with since the transition will be very smooth. Hancock will have a few of his own ideas to implement and continue on with the great job that Benmosche has done for AIG.

     

    Now lets double that buyback program with another 2B and I'll be a happy camper.
    10 Jun, 11:49 PM Reply Like
  • Win R.
    , contributor
    Comments (8) | Send Message
     
    I do not know Peter Hancock personally but I do believe with the decision taken by the person who lead the company up to this level of success. Many thanks to Benmosche for his superior dedication and significant contributions and I pray for his health.
    11 Jun, 03:04 AM Reply Like
  • JFain
    , contributor
    Comments (14) | Send Message
     
    Isn't Property Casualty the AIG division that's been struggling so much lately?
    11 Jun, 08:37 AM Reply Like
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