(Reuters) – American International Group Inc (AIG.N) said on Monday it will reorganize into three new units and will no longer have separate commercial and consumer businesses, marking the first major strategic move by new Chief Executive Officer Brian Duperreault.
Under the new structure, AIG will have a general insurance business, a life and retirement unit and a stand-alone technology unit. Two of those businesses will be led by longtime colleagues Duperreault recruited to AIG in July.
The shakeup marks Duperreaults first major restructuring action after taking the helm of the company in May. Former CEO Peter Hancock stepped down, citing a lack of confidence from the board and investors.
Widely seen as a turnaround expert, Duperreaul…
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