AIG Leaves Carl Icahn No Choice

...but to take the first in a series of steps that will ultimately lead to its CEO maybe being replaced by one of Carl's choosing.

On Monday morning Mr Icahn resumed hostilities by posting a statement to his website, saying that he had been discouraged by several meetings and conversations with Mr Hancock, AIG’s (NYSE: AIG) British-born chief executive. “In all of our discussions with Mr Hancock it was abundantly clear to us that he is not willing to take the bold steps that we, and so many other shareholders, believe are long overdue,” Mr Icahn wrote. “As a result, we intend to commence shortly a consent solicitation that will enable shareholders to express their views directly to the board, which may include a proposal to add a new director who would agree in advance to succeed Mr Hancock as CEO if asked by the board to do so.” [WSJ]