AIG picks new CEO

After steering American International Group through its darkest hours, Robert Benmosche plans to step aside in September and hand the keys to Peter Hancock.

Hancock, AIG's property casualty chief, will take over as CEO Benmosche, who also plans to resign from the board, according to CNNMoney.

"Under Bob's incomparable leadership and vision, AIG has achieved remarkable, and at times, unthinkable, milestones and successes," AIG Chairman Robert Miller said in a statement on Tuesday .

The 70-year-old had previously announced he would step down early next year.

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