8-KLeadership ChangesExhibits & Filings

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Nov 13, 2008)

Filed November 13, 2008For Securities:AIG

Summary

This Form 8-K filing from American International Group, Inc. (AIG) on November 13, 2008, announces a significant change to its Board of Directors. The company elected Dennis D. Dammerman as a new director, effective November 12, 2008. Mr. Dammerman brings a wealth of experience from his previous role as GE Vice Chairman and his current directorships at prominent financial institutions such as Discover Financial Services, Capmark Financial Group Inc., and BlackRock, Inc. His appointment to key committees, including the Compensation and Management Resources Committee and the Finance Committee, indicates a strategic move by AIG to leverage his financial expertise and corporate governance background during a critical period. Investors should note this addition as it reflects an effort by AIG to strengthen its leadership and oversight capabilities.

Key Highlights

  • 1AIG appointed Dennis D. Dammerman as a new Director to its Board.
  • 2Mr. Dammerman's appointment became effective on November 12, 2008.
  • 3He has been assigned to the Compensation and Management Resources Committee.
  • 4He has also been assigned to the Finance Committee of the Board.
  • 5Mr. Dammerman brings significant experience, having served as GE Vice Chairman until 2005.
  • 6He currently holds leadership positions at Discover Financial Services, Capmark Financial Group Inc., and BlackRock, Inc.

Frequently Asked Questions

Dennis D. Dammerman is a newly elected director to AIG's Board. He previously served as GE Vice Chairman and Executive Officer until 2005. He currently holds significant roles as Chairman of the Board of Directors of Discover Financial Services, Lead Director of Capmark Financial Group Inc., and a Director of BlackRock, Inc.

Mr. Dammerman has been appointed to two key committees of AIG's Board of Directors: the Compensation and Management Resources Committee and the Finance Committee.

The appointment of a director with extensive financial and corporate governance experience, particularly one with a background at a major conglomerate like GE and current roles in prominent financial firms, suggests AIG is seeking to bolster its leadership and oversight. This could be particularly important during times of financial market stress, indicating a focus on strategic financial management and compensation practices.