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AIG's Greenberg Announces His Retirement

Maurice "Hank" Greenberg, chief executive officer and president of American International Group, is leaving the job he has held for 40 years. On March 14,...
March 15, 2005

Maurice "Hank" Greenberg, chief executive officer and president of American International Group, is leaving the job he has held for 40 years. On March 14, American International Group (AIG) announced that Greenberg would retire and that its board elected Martin J. Sullivan as president and chief executive officer to succeed him. Greenberg will serve in the capacity of non-executive chairman.

Activities by AIG are currently being examined by New York Attorney General Eliot Spitzer, as well as the Securities and Exchange Commission (SEC) and the U.S. Justice Department. The probes have involved AIG involvement in alleged brokerage steering and bid-rigging, as well as the company's involvement in transactions that investigators say can be used to smooth out financial results.

Greenberg Out at AIG (Insurance Journal 3/14/05)

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