The Chief Executive Officer of AIG passed away On Friday the 27th of February 2016. He died of lung cancer in New York at NYU Langone Medical Center.

 

Robert Benmosche was said to have been diagnonised of lung cancer in the year 2010, and has since battled with the disease. Instead of getting better the illness worsened and as such the former chief executive officer stepped down from office August last year.

 

Peter Hancock, became the new chief executive officer of the company from the first of September, giving Mr. Benmosche the opportunity to concentrate on his treatment. AIG was seriously indebted because it did not win the Housing market bets made, to save the firm, Robert Benmosche took over as chief executive just after retiring from service. This move saved the company, as they were out of debt soon by 2009 fully furnishing the the loan of about $182.3 collected from the government in the previous year 2008. It proved that Benmosche’s leadership was impeccable.

 

Leader of New York’s Federal Reserve Bank, Tim Geithner said that “Bob Benmosche was smart, tough and intrepid, and deserves credit for doing a hard and unpopular thing well by navigating AIG back to safety”.

 

So many other leaders have said a lot about the impeccable leadership characteristic displayed by Robert Benmosche while he was alive. Lighthearted Capital’s chairman, Donald Marron referred to Benmosche as a goal getter, he said that whenever Benmosche wanted a thing done, he gets it done. While Credit Suisse Group’s chief executive officer, Brady Dougan referred to him as a quality advisor and a very supportive personality. The American business world will really miss this great leader and businessman.

 

Image: By AIG (OTRS email from AIG, copyright holder) [CC BY-SA 3.0], via Wikimedia Commons