AIG Names Director Golub As Non-Executive Chairman

   DOW JONES NEWSWIRES 
 

American International Group Inc.'s (AIG) board named a new director Harvey Golub as non-executive chairman.

He will assume the job Monday, succeeding retiring Chairman and Chief Executive Edward M. Liddy, who took the helm of AIG in September as the government rescued the company from the brink of bankruptcy.

On Monday, the insurance giant named Robert Benmosche, the former chairman and chief executive of MetLife Inc. (MET), as its new CEO.

Golub, 70, a former chief executive of American Express Co. (AXP), joined AIG's board in June.

"It is critical that we preserve and protect the value that has been built over the course of decades in AIG, a unique global franchise," Golub said in a press release announcing his appointment Thursday.

Liddy called Golub "one of the most experienced and respected executives in the financial services industry today."

AIG faces potentially controversial decisions, including whether to continue paying bonuses to employees in a unit that is considered largely responsible for the conglomerate's woes and to executives elsewhere in the company.

-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; [e-mail]