AIG announced last week that William G. Jurgensen, the former CEO of Nationwide Insurance, and Theresa M. Stone, the former executive vice president and CFO of Jefferson-Pilot Corporation, will stand for election to the AIG Board.
The nominees will stand with 11 of the 12 current members of the AIG Board at the company’s annual shareholder meeting set to be held on May 15. Under the company’s corporate governance rules, Morris W. Offit will retire from AIG’s Board of Directors at the time that new directors are elected at the annual meeting.
“We are very pleased to have these two outstanding candidates stand for election to the AIG Board,” AIG Chairman Robert S. Miller said. “Their knowledge of the insurance industry and broad business experience will allow them to provide valuable insight as AIG’s management works to build and execute a strategy that maximizes AIG’s potential. On behalf of the Board, I also want to thank Morris Offit for his service to AIG as a Director and as Chairman of the Finance and Risk Management Committee for the past several years. We were very fortunate to have had his wise counsel and guidance over the years.”
Jurgensen served as CEO and director of Nationwide Mutual Insurance Co. and Nationwide Financial Services from May 2000 to February 2009, when he also served as CEO and director of several other Nationwide subsidiaries. Before coming to the insurance industry, Jurgensen served as executive vice president of BankOne Corp., which is now part of JPMorgan Chase & Co. He has also served as the director of ConAgra Foods since 2002 and the director of The Scotts Miracle-Gro Company since 2009.
Stone served as the former executive vice president and treasurer of the Massachusetts Institute of Technology from February 2007 until October 2011, after which she went on to serve as the special assistant to the president of MIT from October 2011 until January of last year. In addition to her time as executive vice president and CFO of Jefferson-Pilot, which is now Lincoln Financial Group, Stone also served as the president of Chubb Life Insurance Co. from 1994 to 1997.