American International Group's CEO Robert Benmosche said he learned in May that he had less than a year to live, leading to his decision to resign earlier, Bloomberg Businessweek reported on Thursday.
As announced in June, 70-year-old Benmosche will step down this weekend after leading the insurer for five years in its post-bailout recovery.
When he received a cancer diagnosis four years ago, Benmosche told staff he planned to leave in 2012, but later postponed his resignation to early next year.
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Peter Hancock, who heads AIG's property-casualty unit and worked at J.P. Morgan before its merger with Chase Manhattan Bank, will assume the position of CEO on Sept. 1.
—By CNBC.com staff