NEW YORK--May 19, 2009--
American International Group, Inc. (AIG) announced today that six new
independent Director nominees will stand for election at the AIG 2009
Annual Meeting of Shareholders scheduled to be held on June 30, 2009.
The six new nominees are Harvey Golub, Laurette T. Koellner, Christopher
S. Lynch, Arthur C. Martinez, Robert S. (Steve) Miller and Douglas M.
Steenland. The slate of candidates that will stand for election will
reconfigure the Board to include a majority of new independent Directors.
“The six new candidates standing for election are outstanding
individuals with excellent leadership and business backgrounds. The new
candidates have extensive experience with large complex organizations
and in the areas of financial services, accounting and restructuring,”
said Edward M. Liddy, AIG’s Chairman and Chief Executive Officer. “The
AIG Board worked closely with the Trustees of the AIG Credit Facility
Trust in the nomination process and adding these individuals to the AIG
Board will help AIG achieve its goals of maximizing the value of AIG’s
core businesses and repaying U.S. taxpayers. The AIG Board will continue
its commitment to responsible governance practices and the protection of
the interests of shareholders, policyholders and other stakeholders.”
Background and experience of the new independent Director nominees
Mr. Golub, 70, was Chairman and Chief Executive Officer of American
Express Company from 1993 to 2001. Mr. Golub joined American Express in
1984 as President and Chief Executive Officer of IDS Financial Services.
Prior to joining American Express, Mr. Golub was a senior Partner with
McKinsey & Co. Mr. Golub is the Non-Executive Chairman of Ripplewood
Holdings, a private equity firm based in New York. He serves as
Non-Executive Chairman of the Board of Campbell Soup Company and The
Reader’s Digest Association. He is also a director of RHJ International,
a public investment company based in Belgium. Mr. Golub also serves on
the Boards of the Lincoln Center for the Performing Arts, the American
Enterprise Institute, and the New York Presbyterian Hospital, and as a
member of the Advisory Board of Miller Buckfire & Co., LLC. Previously,
Mr. Golub has served on the Board of Dow Jones & Company and several
Laurette T. Koellner
Mrs. Koellner, 54, is a retired Senior Vice President of The Boeing
Company and the retired president of Boeing International. Prior to
that, she was President of Connexion by Boeing. Mrs. Koellner also
served as Executive Vice President and a member of The Boeing Company
Office of the Chairman, Chief Human Resources Officer, Chief
Administration Officer, Executive Vice President of Internal Services,
Corporate Controller and Vice President of Internal Audit. Mrs. Koellner
is a member of the University of Central Florida Dean's Executive
Council, and a member of the Council on Foreign Relations. She holds a
Bachelor of Science degree in Business Management from the University of
Central Florida and a Masters of Business Administration from Stetson
University in Deland, Florida. Mrs. Koellner is a Director of Sara Lee
Corporation, as well as Celestica Inc.
Christopher S. Lynch
Mr. Lynch, 51, is an independent consultant providing a variety of
services to financial intermediaries, including risk management,
strategy, governance, financial and regulatory reporting and
troubled-asset management. Prior to retiring from KPMG LLP in 2007, Mr.
Lynch held a variety of positions with KPMG, including National Partner
in Charge – Financial Services, the firm's largest industry division. He
chaired KPMG's Americas Financial Services Leadership team, was a member
of the Global Financial Services Leadership and the U.S. Industries
Leadership teams, and led the Banking & Finance practice. He also served
as a Partner in KPMG's Department of Professional Practice and as a
Practice Fellow at the Financial Accounting Standards Board. Mr. Lynch
was the Lead and audit signing Partner for some of KPMG's largest
financial services clients. Mr. Lynch serves as a Director of the
Federal Home Loan Mortgage Corporation (Freddie Mac).
Arthur C. Martinez
Mr. Martinez, 69, is the former Chairman of the Board, President and
Chief Executive Officer of Sears, Roebuck and Co. He served as Chairman
of the Board, President and Chief Executive Officer of Sears, Roebuck
and Co. from 1995 until 2000. Mr. Martinez was Chairman and Chief
Executive Officer of the former Sears Merchandise Group from 1992 to
1995. He served as Vice Chairman and a Director of Saks Fifth Avenue
from 1990 to 1992 and as Chairman of the Board of the Federal Reserve
Bank of Chicago from 2000-2001 and as a Director from 1996-2002. Mr.
Martinez is a Non-Executive Chairman of HSN, Inc. and a Director of Liz
Claiborne, Inc., International Flavors and Fragrances, Inc.,
IAC/InterActiveCorp and PepsiCo, Inc. and is Chairman of the Supervisory
Board of ABN AMRO Holding, N.V.
Robert S. (Steve) Miller
Mr. Miller, 67, is Executive Chairman of Delphi Corporation. He was
previously Chairman and Chief Executive Officer of Delphi Corporation.
Prior to joining Delphi, Mr. Miller served as Chairman of Federal-Mogul,
Inc., an auto parts supplier based in Southfield, Michigan. Prior to
that, Mr. Miller served in a number of corporate restructuring
situations, including as Chairman and Chief Executive Officer of
Bethlehem Steel (2001-2003), Chairman and Chief Executive Officer of
Federal-Mogul (2000-2001 and 2004-2005), Chairman and Chief Executive
Officer of Waste Management (1997-1999), and Chairman of Morrison
Knudsen (1995-1996). Before that, Mr. Miller had been Vice Chairman and
Chief Financial Officer of Chrysler Corporation. Mr. Miller is a
Director of Symantec Corporation and UAL Corporation (United Airlines).
Douglas M. Steenland
Mr. Steenland, 57, served as President and Chief Executive Officer of
Northwest Airlines Corporation from October 2004 until October 2008 when
Northwest Airlines and Delta Air Lines, Inc. merged. Mr. Steenland
served as President of Northwest Airlines from April 2001 to October
2004. Prior to that, he served in a number of Northwest Airlines
executive positions after joining Northwest Airlines in 1991, including
Executive Vice President, Chief Corporate Officer. Prior to joining
Northwest Airlines, Mr. Steenland was a senior partner at a Washington
DC law firm that is now part of DLA Piper. He previously served as a
Director of Northwest Airlines from 2001 to October 2008. Mr. Steenland
is a Director of Delta Air Lines, Inc. and Digital River, Inc.
American International Group, Inc. (AIG), a world leader in insurance
and financial services, is the leading international insurance
organization with operations in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional and
individual customers through the most extensive worldwide
property-casualty and life insurance networks of any insurer. In
addition, AIG companies are leading providers of retirement services,
financial services and asset management around the world. AIG's common
stock is listed on the New York Stock Exchange, as well as the stock
exchanges in Ireland and Tokyo.
Source: American International Group, Inc.
Christina Pretto, 212-770-7083
Teri Watson, 212-770-7074