AGREEMENT WITH AIG


FOR IMMEDIATE RELEASE

Contact: Susan Gordon: (212) 702-4309

 

                       

CARL ICAHN RELEASES STATEMENT

ON AGREEMENT WITH

AMERICAN INTERNATIONAL GROUP, INC.

 

 

New York, New York, February 11, 2016 – Today Carl C. Icahn released the following statement regarding American International Group, Inc. (NYSE: AIG):

 

Today we reached an agreement with AIG whereby one of our analysts will join the board of directors at the upcoming annual meeting in May. I myself declined to go on the board because of my involvement in so many other companies at this time. AIG also entered into a separate agreement with Paulson & Co. Inc. pursuant to which President John Paulson will join the board at the same time. We welcome John Paulson’s addition to the board and believe his involvement will be additive, especially in that we both have stated the same goals for AIG. We commend the board for adopting a number of our recommendations over the last few months. We continue to believe that smaller and simpler is better and look forward to working collaboratively with the board and management to help catalyze a turnaround in core P&C operations, a more transparent operating structure, and the ultimate shedding of the SIFI designation. We believe that AIG stockholders will benefit from our agreement, which permits our representative to share information with our principals and consultants, subject to customary confidentiality restrictions. I hope and believe that we will work with AIG’s board to enhance value as we have done with so many other boards and companies in the past.

 

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