American International Group Inc. said it has amended its bylaws to allow some shareholders to nominate directors in the proxy statement for its annual meetings.
Under the by-law amendments, a shareholder or group of up to 20 shareholders who own at least three percent of AIG’s outstanding shares of common stock continuously for at least three years may nominate the greater of two candidates or 20 percent of the board, provided the shareholders and nominees satisfy the requirements specified in the by-laws, the company said in announcing the move.
The insurer has been under pressure by activist investors Carl Icahn and John Paulson to split into three companies. AIG CEO Peter Hancock has rejected the idea.
Topics AIG
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
Florida Regulators Crack the Whip on Auto Warranty Firm, Fake Certificates of Insurance 
World’s Growing Civil Unrest Has an Insurance Sting 
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
