American International Group Inc. said yesterday that it has named the former chief executive of Allstate Corp., Edward Liddy, as its chairman and CEO in the wake of the Federal Reserve taking a controlling stake in the company.
Liddy, who joined Clayton, Dubilier & Rice, a private-equity company, as a partner four months ago, replaces Robert Willumstad, who took over the company in June.
Liddy, 62, spearheaded Allstate's initial public offering and spinoff from Sears, Roebuck & Co., where he served as an executive. He joined Allstate in 1994, serving as president and chief operating officer from 1994 to 1998. He was chairman and CEO from 1999 to 2006.
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