Insurance giant AIG pulls plug on incoming exec hire over alleged affair with subordinate: report

Core Points - AIG rescinded the hiring of John Neal as president due to allegations of an affair with a subordinate, Rebekah Clement, at his previous job [1][5][13] - The decision to withdraw the offer came just days before Neal was set to assume the role, leaving industry insiders surprised at AIG's last-minute action [2][13] - AIG stated in a securities filing that the decision was made mutually with Neal due to "personal circumstances" [3][17] Company Background - John Neal previously served as CEO of Lloyd's of London for six years and was CEO of QBE Insurance Group before that [3][13] - Neal had a history of workplace relationship issues, including a prior incident in 2017 where his bonus was cut for failing to disclose a romantic relationship with his executive assistant [4][13] Allegations and Investigations - The relationship between Neal and Clement was reportedly known among Lloyd's employees, who expressed concerns about perceived favoritism [7][8] - Following Neal's departure, Lloyd's reopened an inquiry into his conduct, which had been previously investigated [11][14] - AIG had inquired with Lloyd's about Neal's background before his hiring, and Lloyd's assured AIG that there were no known issues [15]