AIG CEO Peter Hancock To Resign - Quick Facts

(RTTNews) - American International Group (AIG) announced Peter Hancock, President and CEO, has informed the Board of his intention to resign. Hancock will remain as CEO until a successor has been named. The Board will conduct a comprehensive search for a successor to Hancock.

"I believe this is the right decision to make for the company and all its stakeholders. Without wholehearted shareholder support for my continued leadership, a protracted period of uncertainty could undermine the progress we have made and damage the interests of our policyholders, employees, regulators, debtholders, and shareholders," Hancock said.

Hancock was named President and CEO of AIG in September, 2014.