AIG chief expected to step down - report
Directors are looking for a a replacement CEO for the deeply troubled insurance giant.
NEW YORK (CNNMoney.com) -- The board of American International Group Inc. reportedly met Sunday to accept the possible resignation of its chief executive, Martin Sullivan.
According to a person familiar with the matter, Sullivan's departure isn't a sure thing, but it is very likely, The Wall Street Journal reported.
Possible replacements for Sullivan include AIG Chairman Robert Willumstand on either a temporary or permanent basis or Stephen Bollenbach, another AIG director, according to the Journal.
Sullivan and the rest ofAIG's (AIG, Fortune 500) management have been under fire from big investor and former CEO Maurice "Hank" Greenberg, who charged in a letter to the board earlier this month that the company has mishandled the mortgage mess and is in "crisis" following $80 billion of shareholder losses over the past year.
Sullivan took the job when Greenberg ended nearly four decades at the top of AIG when he stepped down in 2005 while the company was under an accounting investigation. 
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