AIG's Benmosche expects to remain CEO until 2012

NEW YORK (Bloomberg)—Robert Benmosche, the American International Group Inc. chief executive officer battling cancer, expects to remain on the job until next year after consulting with doctors.

Mr. Benmosche’s physician briefed the bailed-out insurer’s board, which reiterated its commitment to keeping the executive in his post until next year while the directors search for an eventual successor, the company said today in a statement.

AIG, which is 92% owned by the U.S. Treasury Department, is seeking to assure potential investors about the stability of the company while the government plans to unwind its stake. Chairman Steve Miller is available to be interim CEO if Mr. Benmosche is unable to serve, the company said.

“Nothing in life is certain, but given that I’ve responded very well to my treatment, my doctors believe I can continue to apply the same commitment and energy to AIG over the next 12 to 18 months,” Mr. Benmosche said in the statement. “I feel good.”

AIG advanced 3 cents to $41.98 at 4:13 p.m. in extended trading in New York. The company has almost doubled in the past year on the New York Stock Exchange.

“Every member of the AIG board of directors is thrilled with Bob’s news,” Mr. Miller said.

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