In a move that could have ripple effects on American International Group Inc.’s myriad outside lawyers, the company has agreed to add two activist investors to its board of directors, including a top deputy of billionaire corporate raider Carl Icahn, who has been pushing for a split of the storied insurance giant.
Under an agreement announced Thursday, New York-based AIG will add two seats to its board of directors. The insurer nominated Icahn Capital LP managing director Samuel Merksamer and billionaire hedge fund manager John Paulson of Paulson & Co. to fill the new slots. For now at least, the deal staves off a potential proxy fight over Icahn’s proposal to break AIG into three smaller companies.
