AIG
A new captain for the insurance ship
AIG says Eric Andersen will become its next CEO and president on June 1, while Peter Zaffino shifts into the executive chair role. Translation: the company is changing the person driving the bus, but keeping the former driver in the passenger seat with a pretty important title.
Why investors should pay attention
CEO transitions can be routine, sure. But at a big, sprawling insurer like AIG, leadership changes can still matter because they often hint at what the board wants next — more growth, cleaner execution, fewer legacy headaches, or all of the above.
For shareholders, the big question is whether this is a smooth handoff or a sign the company wants to tweak its playbook after Zaffino’s run. The market usually likes continuity, but it also likes a fresh face if that fresh face comes with a credible plan and no drama.
The fine print, minus the corporate fog
- Eric Andersen takes over as CEO and president on June 1
- Peter Zaffino moves to executive chair
- The announcement came Monday, so this is a near-term leadership change, not some vague “sometime next year” reshuffle
Big picture: AIG isn’t blowing up the old order — it’s doing one of those polished boardroom transitions where the company says “new era,” but with the old guard still close enough to whisper in the ear.