American International Group Inc., the insurer pressured by activist investor Carl Icahn to split into three companies, amended its bylaws to allow certain shareholders to include director nominations in the proxy statement for annual meetings.
A shareholder or group of 20 investors, holding a total of 3 percent or more of the company’s stock for at least three years, could nominate at least two candidates to the board, New York-based AIG said Monday in a statement.
AIG did not address the Icahn issue in its statement. The insurer said it “proactively adopted these amendments, reflecting its strong commitment to corporate government best practices.”
Douglas Steenland, AIG’s non-executive chairman of the board, said in prepared remarks that the board “continually evaluates AIG’s corporate governance practices to be consistent with the best interests of our shareholders.”
*Carrier Management added additional material issued by AIG to this story