AIG hires Buckingham to design simple and effective corporate structure

American International Group (AIG) has hired Lincoln Financial Group's chief people, place and brand officer to design its new corporate structure following the planned separation of its life & retirement business.

The insurer revealed in October 2020 its plans to separate its life & retirement business in order to simplify the corporate structure and unlock "significant value" for its shareholders and other stakeholders.

Lisa Buckingham has been appointed to the newly-created role of executive vice president, global head of AIG Enterprise Design and Life & Retirement Separation Initiatives. Based in New York, she will report to president and chief executive officer Peter Zaffino.

Buckingham has more than 30 years of corporate management experience, and joins AIG from Lincoln Financial Group where she focused on organisational design and development, leadership effectiveness, culture building, enterprise communications, brand and advertising, business continuity and talent development.

Zaffino said: “AIG is undergoing transformative change and actively designing a simpler and more effective corporate structure as we pursue a separation of the Life & Retirement business from AIG through an initial public offering or sale of up to 19.9 percent, as an initial step.

“Lisa brings significant expertise and leadership skills that will help drive the success of the separation and ensure that the organizational design of Life & Retirement and AIG’s remaining businesses, allow them to continue operating as market leading companies in their respective industries.”

Buckingham commented: “I am excited to join AIG as it begins a new era under the leadership of Peter Zaffino and to work with Peter and the other members of his leadership team on the separation of the Life & Retirement business from AIG. In this newly created role, I look forward to helping AIG unlock significant value for its shareholders and other stakeholders.”

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