American International Group named Martha Gallo its new chief information officer.
Previously, Gallo was AIG’s chief auditor. She succeeds Philip Fasano, who left the company to pursue other opportunities. (AIG said it would appoint a new chief auditor soon.)
Peter Hancock, AIG’s president and CEO, referred to Gallo as “a highly experienced business leader” who held other executive roles leading technology teams before joining AIG.
“She has a proven track record of delivering measurable, sustainable results to drive business performance,” Hancock said in prepared remarks. “Technology investment and implementation remains a key priority as we focus on bringing new innovations to our clients to help them face their most pressing challenges.”
Hancock credited Fasano with helping, in part, to make “significant improvements in AIG’s IT capabilities during his time with the company,” as well as hiring experts “whose efforts have begun transforming the way we work and have enabled our businesses to complete more effectively.”
AIG recently reported a 2016 fourth-quarter net loss of $3.04 billion, a big setback in the insurer’s two-year strategic turnaround plan that began in 2015. A report in the Wall Street Journal after the earnings disclosure suggested that Hancock could be penalized or ousted due to the setback.