Breaking on GEM$NBC - AIGs Edward Liddy out

more when I find a link

:sarcasm: (for the sarcasm impaired.)

Of course, they are below sea level... so the fall probably won't hurt him.

I wouldn't mind losing that money.

http://www.cnbc.com/id/30872807
<snip>
American International Group announced Thursday that Chairman and Chief Executive Officer Edward M. Liddy has informed the Board of Directors of his intention to step down once the Board successfully concludes a search for replacements for the roles.

Liddy has recommended to the Board that the Chairman and CEO roles be separated.

Earlier this week, AIG announced the nomination of six new directors to stand for election at the company's annual shareholder meeting on June 30, 2009.

This slate will reconfigure the Board so that a majority of its members will be newly elected independent directors.


"Much work remains to be done at AIG, but much has already been accomplished," Liddy said in a statement. "With the financial assistance of the Federal Reserve Bank of New York and the U.S. Department of the Treasury we have made substantial progress in stabilizing AIG, reducing the systemic risk that led the government to rescue the company, protecting our policyholders and our businesses, and developing a plan to repay American taxpayers."

His star certainly faded fast.

He probably had enough of the criticism while working hard to try to fix that mess. Good luck finding a better replacement.

:kick: