NEW YORK--(BUSINESS WIRE)--Apr. 16, 2015--
American International Group, Inc. (NYSE: AIG) today announced that
Douglas M. Steenland will succeed Robert S. “Steve” Miller as
non-executive Chairman of the AIG Board of Directors, effective July 1,
Douglas Steenland (Photo: Business Wire)
Mr. Miller has served as Chairman of the AIG Board since July 2010.
AIG’s Corporate Governance Guidelines provide that generally an
individual should not serve in that role for more than five years. Both
Mr. Steenland and Mr. Miller are standing for re-election at AIG’s
upcoming annual meeting on May 13, 2015.
“On behalf of the entire board, we would like to thank Steve for his
tireless service and outstanding leadership since he was named chairman
in 2010, and we all look forward to working with Doug in his new
leadership role,” said Suzanne Nora Johnson, chairman of the Nominating
and Governance Committee of the AIG Board of Directors, which led the
Board’s succession process.
“It has been a great honor to serve as Chairman of the Board during the
past five extraordinary years in AIG’s history, and I look forward to
continuing to serve on the Board,” Mr. Miller said.
“AIG plays a unique role in the world, helping companies and consumers
all over the world manage their risks and realize opportunities,” Mr.
Steenland said. “We remain committed to an AIG that is transparent,
well-managed, and valued by all of its stakeholders, and it is in that
spirit that I deeply appreciate the opportunity to succeed Steve,” Mr.
Mr. Steenland and Mr. Miller joined the AIG Board at the same time, in June 2009. Mr. Steenland is currently Chairman of the Board’s
Regulatory, Compliance and Public Policy Committee, and a member of the
Board’s Risk and Capital Committee.
Mr. Steenland is the former Chief Executive Officer of Northwest
Airlines Corporation, serving from 2004 to 2008, and President, serving
from 2001 to 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, and Senior
Vice President and General Counsel. Mr. Steenland retired from Northwest
Airlines upon its merger with Delta Air Lines, Inc.
American International Group, Inc. (AIG) is a leading global insurance
organization serving customers in more than 100 countries and
jurisdictions. 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
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20150416005537/en/
Source: American International Group, Inc.
Jon Diat, 212-770-3505
Hendricks Sullivan, 212-770-3141