AIG shakes up management; four top execs to leave

American International Group announces that four of its top 15 executives will be leaving the company as part of a management restructuring.

Among the moves, Chief Risk Officer Sid Sankaran will become chief financial officer, succeeding David Herzog, who will depart after the filing of AIG's 2015 10-K annual report, AIG said in a statement. Last year's 10-K report was filed with the Securities Exchange Commission on Feb. 20.

Alessa Quane will become chief risk officer and continue as chief corporate actuary.

The shakeup comes after the company announced plans last month to cut up to 23 percent of the company's senior executive staff.

Shares of AIG were flat in early trading trading Thursday. (Get the latest quote here.)

Reuters contributed to this story.

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