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RPT-AIG shareholder says appointments a positive step

Sun Jun 15, 2008 9:18pm EDT

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NEW YORK, June 15 (Reuters) - American International Group Inc (AIG.N) shareholder Eli Broad said on Sunday the change at the helm of AIG was a "positive step forward".

Billionaire Broad, together with other fund managers, wrote in a letter obtained by Reuters last week, that "significant and immediate changes at both the management and board level are clearly called for."

On Sunday, he applauded AIG's move to appoint Robert Willumstad, AIG's chairman, as CEO, and Stephen Bollenbach, as lead director.

"Both are proven, experienced and successful financial executives," he said in an emailed statement. "I expect that they will attract badly needed, first-rate financial and investment executives to AIG." (Reporting by Megan Davies, Editing by Jacqueline Wong)

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