American International Group Inc. has hired Robert H. Benmosche, formerly of MetLife Inc., as president and chief executive officer.

Benmosche, 65, was also elected a member of the board of directors. He will assume his new roles Aug. 10, when Edward M. Liddy, AIG's chairman and CEO, retires, the company said Monday.

AIG's board said Tuesday it hoped to choose a new chairman soon. That person would probably come from the current board, it said.

Benmosche had been MetLife's chairman, president and CEO. Before that he was an executive vice president for PaineWebber Inc.

AIG also announced that Paula Rosput Reynolds, its vice chairman and chief restructuring officer, has decided to leave the company late in the third quarter.

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