Reporting to AIG chairman and CEO Edward Liddy, Herzog will lead the
company’s efforts to reorganise its capital structure and pay back the Federal
Reserve $85bn, two-year rescue loan it received in September. He is also
mandated to overhaul AIG’s expense practices, following a damning open letter to
its board from Cuomo exposing a culture of “exorbitant expenses” and ordering
the company to “recover improper bonuses and other payments and perks”.
AIG said Bensinger left “to pursue other opportunities” and added it would
not be making any severance payout.
Bensinger rose to CFO in 2005 from treasurer and comptroller, but was moved
to the role of vice chairman for financial services this May. Herzog became
comptroller when Bensinger was promoted.
Big Data software company WANdisco has appointed Erik Miller as chief financial officer and with immediate effect
The finance chief of the Daily Mail has been recruited by Rolls-Royce after a management shake-up at the engineering group has resulted in the departure of its chief financial officer
Global mining company Anglo American has appointed Stephen Pearce as finance director, following René Médori's decision to retire
Three former Tesco executives, including the former finance director of Tesco UK, have denied charges of fraud and false accounting in relation to a £326m accounting scandal at the supermarket