On Friday, American International Group, Inc. announced that AIG and Peter Zaffino, president, chief executive officer and chair of the board, entered into an agreement securing Zaffino’s employment through November 10, 2027.

In a media statement, board member John G. Rice, speaking on behalf of the board, highlighted Zaffino’s “track record as a visionary, insightful leader, with an ability to execute comprehensive transformational programs that turn his strategic vision into tangible, measurable success.”

“Under Peter’s leadership, AIG has delivered on ambitious operational and financial objectives and is well positioned to continue to drive long-term value for the company’s shareholders and other stakeholders,” Rice said .

Zaffino stated, “Over the last few years, our global team has executed a complex, multi-faceted turnaround and transformation to elevate AIG’s performance, and deliver value to our clients, distribution partners, shareholders, and other stakeholders. We instilled a culture of underwriting and operating excellence, dramatically changed our risk tolerance, and transformed the way we work and collaborate across the organization.”

Source: AIG