AIG 2005 Annual Report Download - page 12

10 Letter to Shareholders
Secretary Cohen and Ambassador Hills
have been very active Directors in many
areas of our business, drawing on their
significant government and public policy
expertise. On behalf of the Directors and
management, I would like to thank
Bernie, Bill and Carla for their consider-
able contributions to AIG. I am pleased to
advise that both Secretary Cohen and
Ambassador Hills have agreed to serve on
AIG’s International Advisory Board.
I would also like to extend my sincere
thanks and appreciation to our Chairman
Frank G. Zarb and the entire AIG Board
of Directors for their strong support,
leadership and guidance during the past
year. They have worked diligently, provid-
ing Board oversight to management’s
efforts, dealing with the regulatory issues
I have discussed and strengthening AIG’s
corporate governance and financial
control environment. Their assistance
has been invaluable.
In January, 2006, Donald P. Kanak
announced his resignation as Executive
Vice Chairman and Chief Operating
Officer of AIG. He also resigned from the
AIG Board of Directors. Don joined AIG
in 1992 and made many contributions to
our organization, particularly in Asia,
during his career at AIG. We wish Don
well in all his future endeavors.
Sadly, one of AIG’s founding fathers, a
giant in the industry and our organization,
Sir Edwin A.G. Manton, known to us all
as “Jimmy,” passed away in October at the
age of 96. Jimmy had been President and
Chairman of AIU, and later Executive
Vice President of AIG and a member of
the Board of Directors. Though he had
been ailing for a number of years, Jimmy
continued to come into the office regularly
until his last weeks. His enthusiasm and
insights into the business of AIG were
never diminished by the years. All of
us who knew and worked with Jimmy over
the years had a profound respect for his
wisdom, perspective and humanity. He
cared deeply about our company and we
will miss him greatly.
Conclusion
In my Letter to Shareholders last year, I
closed with a discussion of what would
and what would not change at AIG
under our new management team. This
year, I have addressed how we have dealt
with the challenges facing us, and how our
major businesses are positioned to succeed
in the future. We have made a number
of important changes in our corporate
governance, compliance and disclosure
practices. We have added experienced and
respected individuals to our Board. AIG
employees have executed our strategies
with skill and dedication. We have a
focused and committed management team
and an excellent and dedicated family of
employees second to none. On behalf of
the Board of Directors and AIG manage-
ment, I would like to sincerely thank each
of my colleagues for his or her efforts dur-
ing this challenging past year, and also to
recognize the loyalty and commitment of
our shareholders, customers, brokers,
agents and other business partners around
the world. Together, our future is bright.
Sincerely,
Martin J. Sullivan
President and
Chief Executive Officer
March 16, 2006