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Peter Zaffino to step down as AIG executive chair in September 2026
AIG said John Rice will become board chair on September 15, 2026, and Zaffino will later join Palantir as global head of financial services starting January 15, 2027.
AIG announced that Peter Zaffino will step down as executive chair and leave the board, effective September 15, 2026. He will then become a senior advisor to support the company’s leadership transition.
The board has elected John Rice, AIG’s lead independent director since January 2023, to serve as chair of the board starting the same date.
AIG said Zaffino will join Palantir Technologies as global head of financial services effective January 15, 2027, with Palantir saying he will focus on growth and transformational impact across its financial services business.
The announcement also notes Zaffino’s role in AIG’s turnaround, including five consecutive years of underwriting profitability from 2021 to 2025 and an AIG shares rise of more than 85% during his tenure as chief executive, following the insurer’s 2008 taxpayer bailout.