Chairman of AIG May Resign Post
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American International Group Inc.’s Maurice “Hank” Greenberg, who resigned as chief executive of the world’s largest insurer this week, also may give up his role as chairman, people familiar with the matter said Wednesday.
Greenberg, who relinquished his CEO post to Co-Chief Operating Officer Martin Sullivan, may step aside altogether within weeks, said one person familiar with the deliberations of AIG’s board.
New York Atty. Gen. Eliot Spitzer and U.S. regulators are examining whether Greenberg, 79, initiated a reinsurance transaction in 2000 to manipulate earnings, said two people with knowledge of the probes.
“The government will sometimes identify targets of investigation,” said Bradford Lewis, a former federal prosecutor in California. If board directors “received an inkling he’s one of them, they might want to take action,” he said.
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