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AIG Appoints New President, CEO For ILFC

IBR Staff Writer Published 28 March 2010

American International Group (AIG) and International Lease Finance Corp (ILFC) has appointed Alan Lund, vice chairman and chief financial officer of ILFC, as interim president and CEO. He suceeds John Plueger who has retired.

Prior to joining ILFC, Mr Lund worked for the company currently known as Deloitte & Touche as an audit manager and for California-world financial as vice president and chief financial officer.

AIG said that it has also appointed Fred Cromer, senior vice president of finance at ILFC, as new CFO of ILFC to succeed Mr Lund. Prior to joining ILFC in July 2008, Mr Cromer spent 17 years in various airline finance and planning positions at ExpressJet Airlines, Continental Airlines, and Northwest Airlines. Most recently, he served as vice president and CFO of ExpressJet Airlines.

Robert Benmosche, president and CEO of AIG, said: “On behalf of AIG, I would like to thank John for his tireless service to ILFC. ILFC and AIG are confident in the long term potential of ILFC as a leader in its marketplace. Recently, ILFC raised $1.3bn in secured term loans and $2bn in senior unsecured notes, reflecting the strength of its underlying business. ILFC anticipates selling a limited number of aircraft in the future in addition to issuing incremental debt as needed.”