|AIG ANNOUNCES TWO NEW DIRECTOR NOMINEES TO STAND FOR ELECTION AT 2011 ANNUAL MEETING|
NEW YORK, Mar 17, 2011 -- American International Group, Inc. (AIG) announced today that two new Director nominees, W. Don Cornwell, retired Chairman of Granite Broadcasting Corporation, and John H. Fitzpatrick, Chairman, Oak Street Management Co. LLC, will stand for election with the 12 current members of the AIG Board at the AIG 2011 Annual Meeting of Shareholders scheduled for May 11, 2011.
AIG Chairman Robert S. Miller, said, "We are delighted to have two new exceptional candidates stand for election to the AIG Board. They will bring broad experience and valuable perspective as we work with AIG's management and the U.S. Treasury Department to repay the American taxpayers and emerge as a sound and independent company."
Mr. Cornwell, 63, was Chairman of the Board and Chief Executive Officer of Granite Broadcasting Corporation from 1988 until his retirement in August 2009, and Vice Chairman until December 2009. Mr. Cornwell spent 17 years at Goldman, Sachs & Co., where he served as Chief Operating Officer of the Corporate Finance Department from 1980 to 1988 and Vice President of the Investment Banking Division from 1976 to 1988. Mr. Cornwell is currently a director of Avon Products, Inc., where he is a member of the Finance and Strategic Planning Committee and the Audit Committee, and Pfizer, Inc., where he is Chairman of the Audit Committee and a member of the Compensation and Regulatory and Compliance Committees. He earned his BA degree from Occidental College and his MBA from Harvard Business School.
Mr. Fitzpatrick, 54, is currently Chairman of Oak Street Management Co., LLC, a manager of commercial real estate funds and Oak Family Advisors, LLC, a private wealth management firm. From 2006 to 2010, Mr. Fitzpatrick was a Partner at Pension Corporation and a director of Pension Insurance Corporation Ltd. From 1998 to 2006, he was a member of Swiss Re's Executive Board Committee and served at Swiss Re as Chief Financial Officer, Head of the Life and Health Business Group, and Head of Financial Services. From 1996 to 1998, Mr. Fitzpatrick was a Partner in insurance private equity firms sponsored by Zurich Financial Services and Credit Suisse and Swiss Re. From 1990 to 1996, Mr. Fitzpatrick served as the Chief Financial Officer and a Director of Kemper Corporation, an insurance and financial services organization where he started his career in corporate finance in 1978. Mr. Fitzpatrick currently serves as a director of Validus Holdings, Ltd., where he serves on the Audit and Finance Committees. He earned his BBA degree at Loyola University and is a Certified Public Accountant and a Chartered Financial Analyst.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG 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. (AIG)
American International Group, Inc. (AIG)