AMERICAN INTERNATIONAL GROUP, INC. (NYSE:AIG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 6, 2018, American International Group, Inc. (“AIG”) announced the appointment of Jonathan Wismer as Deputy Chief Financial Officer and Chief Accounting Officer. Mr. Wismer will succeed Elias Habayeb as AIG’s principal accounting officer, effective immediately. Mr. Habayeb was appointed Chief Financial Officer for General Insurance in May 2018. A copy of the press release announcing these changes is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Mr. Wismer, 46, was most recently at Zurich Insurance Group from February 2015 to May 2018, serving as Group Controller until October 2017. Prior to joining Zurich, Mr. Wismer spent nine years at Liberty Mutual Group, serving as Senior Vice President & Chief Financial Officer, Liberty International, from January 2011 to January 2015.
In connection with Mr. Wismer’s appointment, AIG established Mr. Wismer’s initial compensation, which will consist of an annual base salary of $600,000, target short-term incentive compensation of $600,000 (prorated for 2018 based on the number of months served) and target long-term incentive compensation of $800,000. His long-term incentive award is subject to the terms and conditions of AIG’s Long Term Incentive Plan and is consistent with AIG’s compensation program for other employees at his level. Any bonus, equity or equity-based award or other incentive compensation granted to Mr. Wismer is subject to the AIG Clawback Policy (and any other AIG clawback policies as may be in effect from time to time). Mr. Wismer will be entitled to severance in accordance with AIG’s Executive Severance Plan. In connection with his appointment, Mr. Wismer also entered into a non-solicitation and non-disclosure agreement.
There are no arrangements or understandings between Mr. Wismer and any other persons to which he was selected as an officer. Mr. Wismer has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
Section 9 — Financial Statements and Exhibits
Item 5.02. Financial Statements and Exhibits.
EXHIBIT INDEX
AMERICAN INTERNATIONAL GROUP INC ExhibitEX-99.1 2 tv500123_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Press Release AIG 175 Water Street New York,…To view the full exhibit click here
About AMERICAN INTERNATIONAL GROUP, INC. (NYSE:AIG)
American International Group, Inc. (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category. Commercial Insurance has three operating segments: Property Casualty, Mortgage Guaranty and Institutional Markets. Commercial Insurance segment is a provider of insurance products and services for commercial and institutional customers. Consumer Insurance also has three operating segments: Retirement, Life and Personal Insurance. Consumer Insurance is a franchise that offers a portfolio of retirement, life insurance and property casualty products through multiple distribution networks. Corporate and Other includes the Company, as well as certain legacy assets and run-off insurance businesses.
