NU Online News Service, Feb. 8, 2:37 p.m. EST
Robert S. "Steve" Miller, the man who could have become American International Group's president and chief executive officer, is taking a leadership role elsewhere.
Miller has been appointed CEO of Hawker Beechcraft Inc. effective Feb. 7.
"The board has an active succession planning process and will be assessing its plans in light of Mr. Miller's announcement," says AIG spokesman Mark Herr in an email. "Mr. Miller continues to serve as Chairman of the Board at AIG. Any change in that regard would be publicly disclosed."
Miller became chairman of AIG in July 2010 when Harvey Golub resigned, citing a rift with CEO Robert Benmosche.
Late that year, the AIG board chose Miller to become the company's interim president and CEO if Benmosche was forced to step down because of his health.
Benmosche has cancer and, although he was initially slated to retire sometime this year, he has since expressed a desire to remain with AIG longer.
"As Bob has said in recent interviews, he is feeling good, wants to stay on past this year and continues to work toward the taxpayers recovering their investment in AIG at a profit, and returning the company to its preeminence as the most valuable insurance company in the world," Herr says.
Miller oversaw the bankruptcy of auto-parts supplier Delphi Corp. and helped Chrysler Corp. return to profitability after taking government loans in 1980. He has been CEO at Waste Management Inc. and Bethlehem Steel Corp.
In a statement, Hawker Beechcraft says Miller has served on the board of directors of more than a dozen companies. The AIG chairman says he is "honored to join and help [Hawker Beechcraft] navigate through the challenges of the current general aviation market."
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