(Bloomberg) -- American International Group Inc.’s Steve Miller plans to relinquish his position as chairman of the insurer’s board, according to a person familiar with the matter.
Miller, 73, joined the board in 2009 and became chairman in July 2010. Company policy limits the chairman to a five-year term, which is unlikely to be extended in this case, said the person, who asked not to be identified speaking about board personnel matters.
Miller helped oversee New York-based AIG’s repayment of more than $182 billion to the U.S. government and the hand-off from former Chief Executive Officer Robert Benmosche to the current CEO Peter Hancock.
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