American international group Inc. Chairman Robert “Steve” Miller
intends to step down in July after 5 years in the position, the Wall road
magazine suggested.
The insurer’s administrators have not yet decided on a
substitute, but the subsequent outside chairman is expected to be a modern
board member, the magazine stated, citing someone familiar with the problem.
Miller, a turnaround professional, joined AIG board in 2009
and became chairman in July 2010, replacing Harvey Golub who resigned after
clashing with former leader govt Robert Benmosche over the botched sale of the
insurer’s Asian existence unit.
Miller joined at a time whilst the insurer changed into hit
tough through the financial crisis and needed to be bailed out by way of the
government using taxpayer’s cash. In 2012, AIG completely repaid the $182.three
billion bailout.
Benmosche, who stepped down as CEO because of most cancers,
died remaining month.
Miller served in a number of company restructuring
conditions, heading car-parts maker Delphi Corp., Bethlehem metallic,
Federal-mogul Holdings Co. and Waste control Inc.
AIG’s company governance guidelines state a non-govt
chairman ought to not serve for extra than five years, the magazine said.
Miller will stay a board member.
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