AIG Makes Board Chair Position Independent

Law360, New York (August 17, 2009, 3:48 PM EDT) -- Fighting to restore its reputation following a more than $180 billion bailout from the U.S. government and numerous questions about its corporate governance practices, American International Group Inc. has amended its bylaws to separate the position of board chairman from the company's management structure.

In an SEC filing Friday, AIG said it had amended its bylaws to require the chair of the board of directors to be independent under the New York Stock Exchange listing standards, as well as removing the position of lead independent director....
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