American International Group reported after the bell on Thursday that it had a fourth-quarter loss of $1.10 per share and that it is adding a Carl Icahn-linked member to its board.
Analysts expected AIG to post a shortfall of 93 cents per share on $13.54 billion in revenue, according to a consensus estimate from Thomson Reuters. The company had a profit of 97 cents a share a year earlier.
Icahn announced in a tweet that he has reached an agreement with the insurance giant.
As part of that accord, AIG will add Samuel Merksamer, managing director of Icahn Capital, to its board of directors in May. John Paulson, president of Paulson & Co., will also be joining AIG's board in May.
"We welcome John Paulson's addition to the board and believe his involvement will be additive, especially in that we both have stated the same goals for AIG," Icahn said in his statement.