SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 24, 1996
AMERICAN GENERAL CORPORATION
(Exact name of registrant as specified in charter)
Texas 1-7981 74-0483432
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
2929 Allen Parkway, Houston, Texas 77019
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(713) 522-1111
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Item 5. Other Events.
American General Corporation (the "Company")
issued a press release on October 24, 1996
announcing that in accordance with the Company's
plan for CEO succession, Robert M. Devlin,
president, has been named to the additional post
of CEO. Under the plan announced in 1995, Harold
S. Hook, who has served as chairman and CEO since
1978, will continue as chairman until the annual
shareholders' meeting in 1997 (the "1997 Annual
Meeting"), at which time Mr. Devlin will be named
chairman.
In a related action, the board of directors
elected James S. D'Agostino, Jr. to the Company's
board of directors and announced that Mr.
D'Agostino will succeed Mr. Devlin as president
at the 1997 Annual Meeting. Until the 1997
Annual Meeting, Mr. D'Agostino will continue to
serve as chairman and CEO of American General
Life and Accident Insurance Company, an indirect
wholly-owned subsidiary of the Company.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(c) Exhibits.
Exhibit Number
99 News release issued by American General
Corporation on October 24, 1996.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this
Report to be signed on its behalf by the undersigned
thereunto duly authorized.
AMERICAN GENERAL CORPORATION
Dated:October 24, 1996 By: /s/ JON P. NEWTON
Jon P. Newton
Vice Chairman and General
Counsel
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
99 News release issued by American General
Corporation on October 24, 1996.
NEWS RELEASE
CONTACT: 96-15
[LOGO]
Robert D. Mrlik or John E. Pluhowski
American General Corporation Vice President - Director - Corporate
P. O. Box 3247 Investor Relations Communications
Houston, Texas 77253 (713) 831-1137 (713) 831-1149
FOR IMMEDIATE RELEASE
AMERICAN GENERAL ADVANCES PRESIDENT TO CEO
Houston, October 24, 1996 -- The Board of Directors of
American General Corporation (NYSE-AGC), in accordance with
the company's plan for CEO succession, today announced that
Robert M. Devlin, president, has been named to the
additional post of CEO. Under the plan announced in 1995,
Harold S. Hook, who has served as chairman and CEO since
1978, will continue as chairman until the annual
shareholders' meeting in 1997, at which time Mr. Devlin
will be named chairman. Mr. Devlin is only the fourth CEO
since the company's founding in 1926.
In a related action, the board elected James S.
D'Agostino, Jr. to American General's board of directors
and announced that Mr. D'Agostino will succeed Mr. Devlin
as president at the annual shareholders' meeting in 1997.
At that time, Mr. D'Agostino will become a member of the
office of the chairman along with Mr. Devlin and Jon P.
Newton, vice chairman and general counsel. Until the 1997
annual meeting, Mr. D'Agostino will continue to serve as
chairman and CEO of American General Life and Accident
Insurance Company in Nashville, a position he assumed in
1993.
In commenting on the announcement, Mr. Devlin said, "Under
Harold's leadership, American General has grown to be one
of the nation's largest and most successful diversified
financial services organizations. This extraordinary
record was achieved in a period of unprecedented change for
the industry and at a time during which American General's
business segments were significantly transformed. Also, I
am pleased that Jim has been elected to our Board and will
be joining the office of the chairman as president next
spring. I look forward to working closely with Jon and Jim
in continuing American General's commitment to building
shareholder value and providing quality service for our
customers."
<PAGE>
News Release 96-15, October 24, 1996 - Page 2
American General Corporation
Mr. Hook, 65, joined American General in 1970 as president
of a life insurance subsidiary. He was elected to American
General's board of directors in 1972 and was elected
president of the parent company in 1975 and chairman and
CEO in 1978. A Chartered Life Underwriter (CLU), Mr. Hook
holds two degrees, a BS degree in Business Administration
and an MA degree in Accounting, from the University of
Missouri (Columbia).
Mr. Devlin, 55, joined American General in 1977 in an
insurance subsidiary and has served in a broad range of
senior management positions in the parent company and in
operating subsidiaries. He was elected vice chairman and
director of American General Corporation in 1993 and served
in that position before being elected president in 1995.
Mr. Devlin served as president and CEO of Houston-based
American General Life Insurance Company from 1986 to 1993.
A Chartered Life Underwriter (CLU), he holds a BA degree in
Economics from Tulane University.
Mr. D'Agostino, 50, joined American General in 1986 and
held several key management positions in the parent company
before being named chairman and CEO of the Nashville-based
life insurance subsidiary in 1993. He holds two degrees, a
BS degree in Economics from Villanova University and a JD
degree from Seton Hall University School of Law. Mr.
D'Agostino has completed the Advanced Management Program at
Harvard University.
American General Corporation is one of the nation's largest
diversified financial services organizations with assets of
$64 billion and shareholders' equity of $5.4 billion.
Headquartered in Houston, it is a leading provider of
retirement annuities, consumer loans, and life insurance to
over eight million households. American General common
stock is listed on the New York, Pacific, London, and Swiss
stock exchanges.
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