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Published May 22, 2009, 07:16 AM

AIG to split chair, CEO positions

American International Group Inc. on Thursday said its chairman and chief executive plans to step down when a search for replacements is complete. The company also said its board agreed with a recommendation from Edward M. Liddy, who took over the insurer in September, to separate the chairman and CEO roles.

NEW YORK (AP) — American International Group Inc. on Thursday said its chairman and chief executive plans to step down when a search for replacements is complete.

The company also said its board agreed with a recommendation from Edward M. Liddy, who took over the insurer in September, to separate the chairman and CEO roles.

AIG will start a search for permanent leadership after the company’s annual shareholder meeting June 30. At that meeting, investors will vote on a slate of six new independent directors.

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