Former airline industry executive Douglas M. Steenland will succeed Robert “Steve” Miller as non-executive chairman of American International Group on July 1, the insurance company announced yesterday.
Steenland previously served as chief executive of the former Northwest Airlines Corp. and earlier as president and general counsel for the company before it merged with Delta Air Lines Inc. He joined the
AIG board in 2009 – the same time as Miller – when the insurance giant was still recovering from its financial crisis in 2008.
“We remain committed to an AIG that is transparent, well-managed, and valued by all of its stakeholders, and it is in that spirit that I deeply appreciate the opportunity to succeed Steve,” Steenland said in a statement.
Miller announced he would be retiring from the chairman position last month, ending his five-year stint as chairman in July. AIG’s corporate governance guidelines suggest an individual should not serve more than five years as chairman.
Both Miller and Steenland will be standing for re-election at AIG’s annual meeting on May 13.
