NU Online News Service, May 21, 4:43 p.m. EDT

American International Group Chairman and Chief Executive Officer Edward M. Liddy will leave the posts he took for $1 per year just nine months ago as soon as the embattled firm can bring on board a pair of replacements.

The announcement was released today just after the stock market closed that Mr. Liddy–who has encountered tough criticism from Congress of late–had told AIG's board of his intention to step down once the company successfully concludes a search for two replacements, one for his CEO post and another to serve as chairman.

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