– AIG chairman Steve Miller intends to step down from his position later this summer, the Wall Street Journal reported on Monday. The report surfaced days after a federal court judge in Manhattan approved a $970.5 million settlement between the insurance giant and its shareholders, stemming from claims they were misled by the company’s positions with its subprime mortgage holdings during the Financial Crisis. AIG’s exposure spurred a cascading liquidity crisis that reportedly left the insurance company on the verge of bankruptcy in September, 2008. Eventually, AIG received a $182.3 bailout from the federal government that helped rescue the company. Miller previously served as the CEO of Delphi, where he helped oversee the company’s restructuring during bankruptcy proceedings. In 2010, Miller was named chairman of AIG after his predecessor Harvey Golub stepped down following a lengthy dispute with then CEO Robert Benmosche over the company’s Asian unit. Benmosche, the executive considered most responsible for leading the insurer’s revitalization, passed away last month after a lengthy battle with lung cancer. Miller, who has earned the moniker “the turnaround kid,” for his ability to rescue companies from bankruptcy during his illustrious career, was also named CEO of Hawker Beechcraft in February, 2012. Months later, the Wichita, Kansas based aerospace manufacturing company entered Chapter 11 bankruptcy. The company exited bankruptcy on its own by the following February under a new name — Beechcraft Corporation.