The chess board holding American International Groups 11-member board of directors may be rearranged, reports the Wall Street Journal, with the end result being a delay in the companys annual meeting and the release of its annual proxy statement.
The Journal reports that the insurers aim is to expand and reshuffle AIGs 11-member board, which has remained largely in place since the government took its 80% stake, pumping as much as $173.3 billion in aid into the company. The AIG board is accountable mostly to its trustees, but also to the other shareholders owning a remaining stake that is slightly more than 20%. To date, the government has appointed three trustees.
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