New York, New York, January 19, 2016 – Today Carl C. Icahn released the following open letter to the board of directors of American International Group, Inc. (NYSE: AIG):
There is no doubt that Charif Souki has proven that he is a talented entrepreneur but at this time there is also little doubt that the board wished to move the company in a direction that differed greatly from the path Mr. Souki wanted.
Unfortunately, my warnings concerning the fact that there will be a large number of our companies leaving the country within the next year is already coming true.
For the past 40 years I have worked diligently to see that errant CEOs and boards were held accountable, and few would disagree that my efforts greatly enhanced the value of hundreds of companies, making many billions of dollars for shareholders.
We have had a number of contacts with representatives of Freeport over the past few weeks and commend the board for adopting a number of our recommendations, such as reducing the number of directors to 11 and providing us with 2 representatives on th