8-KLeadership ChangesExhibits & Filings

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Jul 15, 2015)

Filed July 15, 2015For Securities:AIG

Summary

This Form 8-K filing from American International Group, Inc. (AIG) on July 15, 2015, announces two significant corporate governance changes. Firstly, Elias F. Habayeb has been appointed as the company's Principal Accounting Officer and Group Controller, in addition to his existing role as Senior Vice President and Deputy Chief Financial Officer. Mr. Habayeb brings a strong financial background, including prior experience within AIG and its former subsidiary ILFC, as well as a tenure as a partner at Deloitte & Touche LLP. Secondly, Linda A. Mills has been elected to AIG's Board of Directors and appointed to the Technology Committee and the Compensation and Management Resources Committee. Ms. Mills' appointment is consistent with the company's ongoing efforts to strengthen its board and governance structures. Investors should note these appointments as they reflect ongoing leadership and oversight developments within the company.

Key Highlights

  • 1Elias F. Habayeb appointed as Principal Accounting Officer and Group Controller.
  • 2Habayeb's appointment adds significant financial oversight responsibility to his existing role as Senior Vice President and Deputy Chief Financial Officer.
  • 3Linda A. Mills elected to the Board of Directors.
  • 4Ms. Mills appointed to the Technology Committee and the Compensation and Management Resources Committee.
  • 5Ms. Mills' appointment reflects ongoing board refreshment and expertise enhancement.
  • 6Director compensation for Ms. Mills will include a pro-rated annual award of deferred stock units, aligning with existing director compensation practices.
  • 7No undisclosed material interests or arrangements related to these appointments were reported.

Frequently Asked Questions

Elias F. Habayeb has been appointed as the Principal Accounting Officer and Group Controller of AIG. He also continues to serve as Senior Vice President and Deputy Chief Financial Officer. His background includes prior roles at AIG, its former subsidiary ILFC, and a tenure as a partner at Deloitte & Touche LLP.

Linda A. Mills' election to the Board of Directors signifies an addition of new expertise and perspective to AIG's leadership. Her appointment to the Technology Committee and the Compensation and Management Resources Committee suggests a focus on strategic technology oversight and executive compensation governance.

According to the filing, there are no undisclosed direct or indirect material interests in any transactions, nor are there any specific arrangements or understandings between Mr. Habayeb or Ms. Mills and any other persons that led to their selection, beyond standard directorship qualifications and compensation.

Ms. Mills will receive a pro-rated annual award of deferred stock units, which is consistent with the compensation provided to AIG's other independent directors, as detailed in the company's 2015 Proxy Statement.