C-Suite Changes: Northwestern, Phoenix, AIG

“My entire career has been at Phoenix, which made this a particularly difficult decision,” Young says in a statement of her own. “Ultimately, however, I determined that it was the right time to make the change for the company and for my family. Obviously, the past several months have been challenging as never before, and Jim Wehr’s deep market expertise has been invaluable. Clearly, Jim is ready to lead the company at this critical point in its history. The management team is deep and strong, and the board is experienced and resourceful. I look forward to working with Jim and the board to assure a seamless transition and as a consultant for the next year.”

Wehr, who has worked for Phoenix since 1981, has a bachelor’s degree from Fairfield University and a master’s degree in business from the University of Connecticut.

Johnson, 68, is the retired chairman and chief executive officer of GreenPoint Financial Corp.,

- American International Group Inc., New York, has named Rodney Martin Jr., an executive vice president, chairman of international life and retirement services.

Martin will oversee units such as American International Assurance Company Ltd., American Life Insurance Company, AIG Star Life Insurance Company Ltd., AIG Edison Life Insurance Company and Nan Shan Life Insurance Company Ltd.

Martin also will b chairman of ALICO and chairman of AIA.

Martin will succeed Edmund Tse, 71, who is an AIG senior vice chairman.

Tse is retiring after 48 years at AIG.

Tse, who is scheduled to step down May 13, will continue to be honorary chairman of AIA and non-executive chairman of both Nan Shan and the Philippine American Life and General Insurance Company.

Tse has been a senior vice chairman at AIG since 2001.

Tse has agreed to enter into a service agreement with AIA, AIG says in a report filed with the U.S. Securities and Exchange Commission.

“As part of the agreement, Mr. Tse agreed to abide by certain restrictive covenants and to execute a release of claims in favor of AIG,” AIG says. “Mr. Tse will receive an annual fee of U.S. $250,000 for his service. The agreement is terminable on 30 days notice by either party, in which case the fee would be pro-rated. In addition, Mr. Tse will be eligible to receive a transaction bonus in an amount to be determined by AIG in its sole discretion in the event of a sale or initial public offering of any of AIG’s foreign life operations (subject to limitations imposed by any other agreement or arrangement of AIG).”

Martin, the new chairman of AIG International Life, was elected chairman and chief executive officer of ALICO and chief operating officer of AIG’s Worldwide Life Insurance operations in 2006, and AIG executive vice president life insurance in 2002.

Martin’s appointment is subject to regulatory approval.

AIG’s domestic life and retirement businesses will continue to be run by Matthew Winter, a senior vice president, life insurance, and Jay Wintrob, an executive vice president, retirement services, AIG says.