AIG Terminates Interim Finance Chief Mark Lyons After Violating Obligations

  • American International Group AIG terminated Mark Lyons from his position as AIG's Interim Chief Financial Officer and Executive Vice President, Global Chief Actuary, and Head of Portfolio Management.
  • The move followed after the company became aware that he violated his confidentiality/non-disclosure obligations to the company.
  • These violations were unrelated to AIG's financial statements, financial reporting generally, related disclosure controls and procedures, or reserves. 
  • Also Read: Insurer AIG Gets $85B Government Bailout 14 Years Ago Today.
  • Sabra Purtill has been named AIG's Interim Chief Financial Officer, and Turab Hussain has been named AIG's Interim Global Chief Actuary.
  • Ms. Purtill previously served as Chief Investment Officer of Corebridge Financial. 
  • Mr. Hussain previously served as AIG's Chief Risk Officer, General Insurance. 
  • Mr. Lyons joined the company in 2018 and previously served as the CFO. He took on the interim position earlier this month because CFO Shane Fitzsimons has taken a temporary medical leave of absence.
  • Price Action: AIG shares closed at $63.17 on Monday.
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