NEW YORK: American International Group (AIG) has hired Steven
Rautenberg from Canon USA to become its VP of communications, concluding
a lengthy search.
Rautenberg will be responsible for corporate communications, PR,
advertising, marketing and events for the insurance and financial
The incumbent in the role, John Wooster, will stay with the company as a
"special adviser." No one at AIG would comment on the nature of this
role, nor expand further on Rautenberg's appointment.
Prior to Canon USA, where Rautenberg had been VP and GM, communications,
he served for five years as the senior corporate communications
executive at Reliance Group Holdings.
AIG stock on the NYSE has fallen from about 96 points at the beginning
of the year to a current average in the 80-point range. In May, the
company purchased life insurer American General for dollars 23 billion
in stock, the largest acquisition ever in the insurance industry.
"AIG is one of the great companies of the world and I'm thrilled to be a
part of it," said Rautenberg in a statement to PRWeek.