AIG names next nonexecutive chairman

Douglas M. Steenland will succeed Robert S. “Steve” Miller as nonexecutive chairman of American International Group Inc.’s board, effective July 1, AIG announced Thursday.

Mr. Steenland is the former CEO of Northwest Airlines Corp. He retired from Northwest when the airline merged with Delta Air Lines Inc. He is also currently chairman of the AIG board’s regulatory, compliance and public policy committee.

Mr. Miller has served as AIG chairman since July 2010. In Thursday’s announcement, AIG noted that its corporate governance guidelines “provide that generally an individual should not serve in that role for more than five years.”

Both Messrs. Steenland and Miller are standing for re-election at AIG’s annual meeting next month, according to AIG’s announcement. Both joined the AIG board in June 2010.