Summary
This 8-K filing from American International Group, Inc. (AIG) on February 13, 2006, reports the departure of two key board members, Carla A. Hills and William S. Cohen. Both directors have indicated they will not seek reelection at the upcoming 2006 Annual Meeting of Shareholders. Their departures represent changes in the composition of AIG's Board of Directors.
Key Highlights
- 1Two AIG Directors, Carla A. Hills and William S. Cohen, will not stand for reelection.
- 2Their decision was formally communicated to AIG on February 7, 2006, and February 10, 2006, respectively.
- 3Carla A. Hills is a member of the Audit Committee and the Nominating and Corporate Governance Committee.
- 4William S. Cohen is a member of the Public Policy and Social Responsibility Committee.
- 5The departures will impact the composition of AIG's Board of Directors at the 2006 Annual Meeting.
- 6This filing falls under Item 5.02 of Form 8-K, concerning Departure of Directors or Principal Officers.
Frequently Asked Questions
The filing states that the directors themselves notified AIG of their decision not to seek reelection at the 2006 Annual Meeting. The specific reasons for their decision are not detailed in this particular filing.
Carla A. Hills was a member of the Audit Committee and the Nominating and Corporate Governance Committee. William S. Cohen was a member of the Public Policy and Social Responsibility Committee.
This filing only reports the non-reappointment of two board members. It does not, by itself, indicate any immediate changes to AIG's operations. The Board's composition will change following the shareholder meeting.
Their terms will officially end at the 2006 Annual Meeting of Shareholders, at which point they will not be re-elected.