Grumpy old men

5 November 2007 By Rob Cox Follow @rob1cox

Hank Greenberg is the latest deposed boss to rattle the cage of his former employer, AIG. Who s next? Sandy Weill? Jack Welch? It s easy to see why these former CEO superstars would want back in the game. Investors shouldn t hold their breath for a geriatric rescue.

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Maurice "Hank" Greenberg may try to shake up the management and strategy of American International Group, the insurer he ran for some 40 years, according to a filing with the Securities and Exchange Commission. Greenberg, 82, controls 13.6% of the company's shares through various holding companies.

Greenberg "believes that there are opportunities to significantly improve [AIG's] performance and strategic direction, as well as the value of their investment," the filing states, and suggests he may discuss taking action with other shareholders.

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