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American International Group announced Thursday that CEO Peter Hancock has informed the board of directors that he plans to step down, per CNBC. Shares of AIG rose 1.4% pre-market after the news.

Hancock, who was named chief executive of the global insurance organization in 2014, will remain CEO until a successor is appointed.

AIG CEO announces plans to resign

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American International Group announced Thursday that CEO Peter Hancock has informed the board of directors that he plans to step down, <a class="gtmContentClick" data-vars-link-text="per CNBC" data-vars-click-url="http://www.cnbc.com/2017/03/09/aig-ceo-hancock-to-resign.html?__source=newsletter%7Cbreakingnews" data-vars-content-id="2190d247-917c-42a4-847a-08d9fbb6f19e" data-vars-headline="AIG CEO announces plans to resign" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="http://www.cnbc.com/2017/03/09/aig-ceo-hancock-to-resign.html?__source=newsletter%7Cbreakingnews" target="_blank">per CNBC</a>. Shares of AIG rose 1.4% pre-market after the news.Hancock, who was named chief executive of the global insurance organization in 2014, will remain CEO until a successor is appointed.

After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

AIG CEO announces plans to resign

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