AIG Elects Liddy as CEO

American International Group, Inc. (AIG) announced that its board of directors has elected Edward M. Liddy as chairman and CEO.

Liddy, 62, succeeds Robert B. Willumstad. Stephen F. Bollenbach, who was named lead independent director in June 2008, continues in that role.

Liddy joined the private equity firm of Clayton, Dubilier & Rice Inc. this year after serving as chairman of The Allstate Corp. since January 2007. Prior to that, he was Allstate chairman and CEO from 1999 until 2006 and president and chief operating officer from 1994 until 1998. He led the initial public offering and 1995 spin-off of Allstate from Sears, Roebuck and Co. At Sears, Liddy served as senior vice president and chief financial officer and as senior vice president-operating. Prior to that, Liddy was chief financial officer of G. D. Searle & Co.

Source: American International Group