The announcement could come out anytime today, if not sometime later this week.
The Wall Street Journal has reported citing sources familiar with the matter at hand, American International Group (AIG) plans on naming Brian Duperreault as its new chief executive.
AIG and Duperreault are finalizing the details of his employment contract and are reportedly close to a final agreement. A formal announcement could come out anytime this week.
Duperreault currently heads the Hamilton Insurance Group.
Both the Hamilton Insurance Group as well as AIG did not respond to requests for comment outside regular business hours.
Peter Hancock, AIG’s current CEO had stated in March 2017 that he would step down from his position given the company’s poor financial performance which has frustrated its board of directors as well as its shareholders.
The move has been cheered by activist investor Carl Icahn, AIG’s fourth-largest shareholder.
Hancock was to remain the company’s CEO till AIG named a successor.