American International Group’s Robert Benmosche has received a positive health prognosis that will allow him to continue his role as the company’s President and CEO.
“My doctors have given me an encouraging prognosis as I continue to undergo treatment for cancer,” Benmosche said in a statement. “As we all know, nothing in life is certain, but given that I’ve responded very well to my treatment, my doctors believe I can continue to apply the same commitment and energy to AIG over the next twelve to 18 months.”
“I feel good, and I am delighted to tell you that I remain absolutely committed to continue working with the wonderful team of people here at AIG on that timetable. We are all very focused on positioning AIG for future growth and enhanced profitability as we continue to make substantial progress on repaying all of our government obligations – and, we continue to believe, at a profit. Most likely, I’ll return to my retirement sometime in 2012.”
The Board of Directors also has agreed that its CEO succession contingency plan remains the same as announced on October 27, 2010: in the event that Mr. Benmosche becomes unwilling or unable to continue to effectively serve in his current role, Robert S. “Steve” Miller, Chairman of the AIG Board of Directors, would step in as interim CEO of AIG for as long as it takes to identify and select a long-term replacement for Mr. Benmosche.
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