American International Group Inc. said that four of its 15 most-senior executives are departing, continuing an effort by Chief Executive Peter Hancock to realign duties and cut costs as the insurer faces pressure from big investors to improve profitability, the Wall Street Journal reported today. The departures will shrink an advisory committee of high-ranking executives that Hancock formed shortly after taking over as CEO in September 2014. It will become a 10-member team, down from 15. The shake-up is part of a broader plan, unveiled last month, to cut up to 23 percent of AIG’s senior management, or as many as 320 positions. The revamping is aimed at making AIG less complex, more efficient and able to make decisions faster, AIG said in a news release.
