Greenberg Retires As AIG Chairman Spitzer praises board for shaking up the management status quoMaurice Greenberg, the feisty head of American International Group for nearly four decades, told the company in a letter from his lawyer last week that he would not seek reelection as non-executive chairman and would retire.

With the company under increasing scrutiny for transactions linked to Mr. Greenberg, the AIG board replaced him as chief executive officer two weeks ago with Martin Sullivan. Following this latest news, the board announced that Frank G. Zarb, the boards lead director, will become chairmanat least on a temporary basis.

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