American International Group, Inc. : AIG Announces the Resignation of Donald Layton from the AIG Board of Directors
05/10/2012| 04:25pm US/Eastern
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American International Group, Inc. (NYSE: AIG) announced today that, due
to his appointment as Chief Executive Officer of Freddie Mac, Mr. Donald
Layton had submitted his resignation from the Board of Directors of AIG
to be effective as of the commencement of AIG's 2012 Annual Meeting of
Shareholders on May 16, 2012.
"We are thankful for Don's service to the AIG Board of Directors," said
Robert S. Miller, AIG Chairman of the Board. "Don's appointment to lead
the management team at Freddie Mac signifies an important public service
to the country, and we wish him great success in his new role."
"Since joining the AIG Board of Directors in 2010, the management and
employees of AIG have built on the business momentum and transformed
this company," said Mr. Layton. "I am confident in AIG's future and take
pride in the significant achievements made by AIG during my tenure on
the Board."
In light of Mr. Layton's unexpected resignation, the AIG Board of
Directors currently expects to add a Director. A candidate that the
Board is considering is Mr. Morris W. Offit. While Mr. Offit is retiring
as a Director of AIG at this year's Annual Meeting in accordance with
the retirement guideline for AIG Directors, it may be in the best
interests of AIG and its shareholders to ask Mr. Offit to serve an
additional year, as permitted by the retirement guideline, in light of
his knowledge of AIG's businesses and affairs.
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 and the Tokyo Stock Exchange.
American International Group, Inc. (AIG)
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Jim
Ankner, 212-770-3277
(C): 917-882-7677
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Community
Liz Werner, 212-770-7074
© Business Wire 2012
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