In a brief statement, American International Group Inc. said John Neal will not be joining the company as president next month due to personal circumstances.

The statement did not elaborate on the circumstances, stating only that the company reached a mutual agreement with Neal about the change.

He was scheduled to assume the position of president, effective Dec. 1.

AIG Chair and CEO Peter Zaffino will continue to work with the board on the future organizational structure of the company to drive performance on behalf of its clients, partners and stakeholders.

Update: According to CM’s sister publication, Insurance Journal, AIG has named Jon Hancock as CEO of General Insurance. Read IJ’s article, “Former Lloyd’s CEO Neal Will Not Join AIG; Hancock to Be General Insurance CEO” for more information.

Related articles:

• • Former Lloyd’s CEO Neal Headed to AIG as President
  • Lloyd’s Names Tiernan as CEO, Succeeding Neal Who Is Moving to Key Role at Aon
  • Aon Promotes Reinsurance Leaders as John Neal Takes a New Direction With AIG