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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

Business

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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