by VDC Staff

American International Group, the longtime owner of Stowe Mountain Resort until 2017, is facing a sudden leadership reversal after its incoming president, John Neal, withdrew from the position earlier this week. The decision came shortly after The New York Times questioned A.I.G. about a previously undisclosed romantic relationship involving Neal at a former job.

A.I.G. announced Neal’s hiring this summer, describing him as a seasoned global insurance executive and potential successor to CEO Peter Zaffino. But the company made no mention of the circumstances surrounding his 2017 exit from QBE, an Australia-based insurer where he served as chief executive.

According to details acknowledged at the time, Neal engaged in a romantic relationship with his personal assistant and failed to disclose it to QBE’s board—a requirement under the company’s code of conduct. When the board learned of the relationship, it penalized Neal by reducing his bonus by $550,000. He stepped down several months later, a departure covered by multiple news outlets.

Neal later became chief executive of Lloyd’s of London before being selected by A.I.G. His withdrawal leaves A.I.G. without its anticipated next president and raises fresh questions about disclosure practices at the highest levels of the company.

Former AIG exec charged with sex assault in Stowe

This isn’t the first sex-related downfall of a top exec at AIG in 2025. Media reports surfaced in July that a former high-ranking executive from AIG was facing serious criminal charges following an alleged incident at The Lodge at Spruce Peak, a luxury resort in Vermont’s Green Mountains.

According to a Compass Vermont story this July, David McElroy, 66, of West Simsbury, Connecticut, who previously served as chairman of general insurance at AIG, was charged in July of sexually assaulting a woman during what court documents describe as a work-related event at the resort. The charges include three counts of sexual assault and one count of lewd and lascivious conduct, felonies under Vermont law that carry the potential for life imprisonment if convicted, along with fines of up to $25,000 per sexual assault count and $300 for the lewd conduct charge. There have been no media reports about the McElroy case since July.