American International Group today named Paula Rosput Reynolds, the former chairman and chief executive officer of Safeco, to oversee the asset sale needed to pay back its huge borrowings from the Federal Reserve Board.
It also named Richard Booth, currently its chief administrative officer and head of its Hartford Steam Boiler property-casualty business, to lead the unit responsible for restructuring the smaller company that will emerge after AIG divests the assets needed to repay the Fed.
Ms. Reynolds will serve as a vice chairman and its key liaison to the Fed, the company said.
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