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AIG names John Rice chair as Peter Zaffino steps down in 2026
Zaffino will move to a Senior Advisor role on September 15, 2026, and leave the executive chair and board posts that day.
American International Group (AIG) confirmed that Peter Zaffino will step down as Executive Chair and a member of its Board of Directors on September 15, 2026. John Rice will take over as Chair of the AIG board on the same date, as part of the insurer’s leadership transition.
AIG said Zaffino moved from President and CEO to Executive Chair earlier this year. It also noted that former Aon executive Eric Andersen was named as his successor, and that Zaffino will become a Senior Advisor to the company from September 15, 2026 to continue supporting the executive transition.
The board elected Rice, AIG’s Lead Independent Director since 2023 and a board member since March 2022, to serve as its new Chair. AIG also highlighted Rice’s prior experience as Non-Executive Chairman of GE Gas Power from 2018 to 2020 and earlier leadership roles at General Electric before he retired as Vice Chairman in 2018.
In remarks included with the announcement, AIG said Rice will build on Zaffino’s tenure, and Zaffino said he looks forward to serving as Senior Advisor and working with Andersen and the board through the transition. AIG also disclosed that effective January 15, 2027, Zaffino is set to join Palantir Technologies as Global Head of Financial Services.