AIG Grants New CEO $12 Million Cash, 1.5 Million Options
- Duperreault will take over for Hancock amid slump in P&C unit
- Former Hamilton chief to get $16 million annual pay package
AIG Appoints Hamilton's Duperreault as New CEO
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American International Group Inc. will give Brian Duperreault $12 million in cash, 1.5 million stock options and an annual pay package valued at $16 million to turn around the company as its seventh chief executive officer since 2005.
AIG will also pay Duperreault’s previous employer, Hamilton Insurance Group, as much as $40 million over two years to waive their former CEO’s non-compete agreement, according to a regulatory filing Monday.