|AIG APPOINTS LAURETTE T. KOELLNER TO NEWLY CREATED ROLE OF ILFC EXECUTIVE CHAIRMAN|
Appointment Follows Investigation by AIG, ILFC Parent, Of Intra-Office Personal Relationship by ILFC CEO
The appointment of Ms. Koellner, who has been serving as an independent
director of AIG since
Ms. Koellner’s appointment follows a review begun when AIG received an anonymous complaint alleging the existence of a personal relationship between Mr. Courpron and an ILFC employee under his supervision. In the course of AIG’s review, Mr. Courpron and the employee each acknowledged that they had engaged in a voluntary relationship that had ended. The complaint further alleged that the relationship resulted in improper use of company assets and inappropriate personnel decisions. AIG, with the assistance of outside counsel, found these allegations to be unsubstantiated.
At the conclusion of the review, AIG assessed Mr. Courpron’s conduct as
contrary to AIG’s expectations of its officers. Accordingly, AIG
established an office of Executive Chairman at ILFC and reduced Mr.
Courpron’s annual compensation by
“I apologize for my mistake and the time-consuming distractions it created,” Mr. Courpron said. “I am committed to keep moving forward with the ILFC team and Laurette.”
“We have taken the right steps to affirm AIG’s and ILFC’s commitment to sound conduct in the workplace,” Ms. Koellner said. “The Board, Bob, and I are confident in Henri’s leadership at ILFC, and we will work together to assure that ILFC continues to build on its momentum as the largest independent aircraft lessor in the industry.”
American International Group, Inc.