AIG Announces Two New Director Nominees to Stand for Election at 2013 Annual Meeting
NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (AIG) announced today that two new Director nominees, William G. Jurgensen, former Chief Executive Officer of Nationwide Insurance, and Theresa M. Stone, Former Executive Vice President and Treasurer of the Massachusetts Institute of Technology and former Executive Vice President and Chief Financial Officer of Jefferson-Pilot Corporation, will stand for election with 11 of the current 12 members of the AIG Board at the AIG 2013 Annual Meeting of Shareholders scheduled for May 15, 2013.
In addition, in accordance with AIG's Corporate Governance Guidelines, Morris W. Offit will retire from the Board of Directors effective at the time that the directors are elected at the 2013 Annual Meeting.
AIG Chairman Robert S. Miller, said, "We are very pleased to have these two outstanding candidates stand for election to the AIG Board. Their knowledge of the insurance industry and broad business experience will allow them to provide valuable insight as AIG's management works to build and execute a strategy that maximizes AIG's potential."
Chairman Miller continued, "On behalf of the Board, I also want to thank Morris Offit for his service to AIG as a Director and as Chairman of the Finance and Risk Management Committee for the past several years. We were very fortunate to have had his wise counsel and guidance over the years."
Mr. Jurgensen, 61, is a former Chief Executive Officer and Director of Nationwide Mutual Insurance Company and Nationwide Financial Services, Inc., serving from May 2000 to February 2009. During this time, he also served as Chief Executive Officer and a Director of several other companies within the Nationwide enterprise. Prior to his time in the insurance industry, he spent 27 years in the commercial banking industry. Before joining Nationwide, Mr. Jurgensen was an Executive Vice President with BankOne Corporation (now a part of JPMorgan Chase & Co.) where he was responsible for corporate banking products, including capital markets, international banking and cash management. He managed the merger integration between First Chicago Corporation and NBD Bancorp, Inc. and later was Chief Executive Officer for First Card, First Chicago's credit card subsidiary. At First Chicago, he was responsible for retail banking and began his career there as Chief Financial Officer in 1990. Mr. Jurgensen started his banking career at Norwest Corporation (now a part of Wells Fargo & Company) in 1973. The majority of Mr. Jurgensen's career has involved capital markets, securities trading and investment activities, with the balance in corporate banking. Mr. Jurgensen has been a Director of ConAgra Foods, Inc. since 2002, where he has served on the Audit Committee and currently serves on the Human Resources and the Nominating, Governance and Public Affairs Committees. He has also been a Director of The Scotts Miracle-Gro Company since 2009, where he has served on the Governance and Nominating Committee and currently serves on the Audit and Finance Committees.
Ms. Stone, 68, is the former Executive Vice President and Treasurer of the Massachusetts Institute of Technology (MIT), serving from February 2007 until October 2011. In her role as Executive Vice President and Treasurer, Ms. Stone served as MIT's Chief Financial Officer and was also responsible for MIT's operations, including capital projects, campus planning, facilities operations, information technology, environmental health and safety, human resources, medical services, and police. Ms. Stone also served as the Special Assistant to the President of MIT from October 2011 to January 2012. From November 2001 to March 2006, Ms. Stone served as Executive Vice President and Chief Financial Officer of Jefferson-Pilot Corporation (now Lincoln Financial Group). Ms. Stone also served as the President of Chubb Life Insurance Company from 1994 to 1997. Ms. Stone also served as a Director of the Federal Reserve Bank of Richmond from 2003 to 2007 and as Deputy Chairman from 2005 to 2007. Ms. Stone began her career as an investment banker, advising clients primarily in the insurance and financial services industries on financial and strategic matters. Ms. Stone served as a Director of Progress Energy, Inc. from 2005 to 2012, where she served as Chairman of the Audit and Corporate Performance Committee and a member of the Executive, Finance and Governance Committees. She also served as a Director of Duke Energy Corporation during July 2012 following the company's merger with Progress Energy Inc.
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.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all jurisdictions, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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