8-KLeadership Changes

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Mar 12, 2020)

Filed March 12, 2020For Securities:AIG

Summary

This 8-K filing from American International Group, Inc. (AIG) announces a key change in its financial leadership. Jonathan Wismer, the Deputy Chief Financial Officer and Chief Accounting Officer, is departing the company effective March 31, 2020. Mr. Wismer has held the role of principal accounting officer since August 2018. The company has moved swiftly to fill this critical position, appointing Elias F. Habayeb as the new Senior Vice President, Deputy Chief Financial Officer, and Chief Accounting Officer, effective March 9, 2020. Mr. Habayeb also assumes the additional responsibility of principal accounting officer. Mr. Habayeb's expanded role signifies a consolidation of financial oversight within a seasoned executive. He brings a deep understanding of AIG's financial operations, having served in various senior financial capacities, including CFO for General Insurance since August 2018. Investors should note that any compensation adjustments for Mr. Habayeb in his new capacity will be disclosed in a future amendment. This transition in leadership is a routine event, but stability and continuity in accounting and financial reporting are crucial for investor confidence, especially during periods of economic uncertainty.

Key Highlights

  • 1Jonathan Wismer, Deputy CFO and Chief Accounting Officer, is departing AIG effective March 31, 2020.
  • 2Elias F. Habayeb has been appointed as the new Senior Vice President, Deputy Chief Financial Officer, and Chief Accounting Officer.
  • 3Mr. Habayeb also assumes the role of principal accounting officer, effective March 9, 2020.
  • 4Mr. Habayeb currently serves as AIG's Senior Vice President and Chief Financial Officer for General Insurance.
  • 5Mr. Habayeb has held various senior financial roles within AIG since 2015.
  • 6There are no disclosed arrangements or undisclosed interests of Mr. Habayeb in relation to his appointment.
  • 7Details on any compensation changes for Mr. Habayeb will be provided in a future filing.

Frequently Asked Questions

Jonathan Wismer is leaving AIG to pursue other opportunities. His departure is effective March 31, 2020.

Elias F. Habayeb has been appointed as the new Senior Vice President, Deputy Chief Financial Officer, and Chief Accounting Officer, and will also serve as the principal accounting officer.

Mr. Habayeb has extensive experience within AIG, serving as Senior Vice President, Chief Financial Officer – General Insurance since August 2018. Prior to that, he held roles as Senior Vice President, Deputy Chief Financial Officer and Group Controller from July 2015 to August 2018.

Any changes to Mr. Habayeb's compensation arrangements related to his new appointment will be disclosed in an amendment to this Current Report on Form 8-K once they are determined.