American International Group is set to elect a new slate of directors at its annual meeting, reports Reuters.
The new slate is needed as the company stands to see one retirement and three other directors not standing for re-election. The meeting will be held on Wall Street and will be the first public opportunity for shareholders to vent frustration since the insurer’s financial implosion last year.
AIG had delayed its annual meeting, which is usually held in May, to allow time to seek out new directors. Only George miles and Morris Offit, who have served as directors since 2005, will remain, and the rest of the 11-member board will be newly elected.
According to Reuters, joining the board since 2008 were Suzanne Nora Johnson, a former Goldman Sachs vice-chairman; Dennis Dammerman, former General Electric finance chief, and Ed Liddy, CEO, although he plans to stand down as soon as successors are found.
The rest of the board will be comprised of nominees: Harvey Golub, Laurette Koellner, Christopher Lynch, Arthur Martinez, Robert S. (Steve) Miller, and Douglas Steenland.