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AIG Chief Steps Down: Report

Stock quotes in this article: AIG , LM , LEH , C , MER  

Updated from 12:06 p.m. EDT

The fallout from the subprime meltdown and related credit crisis has claimed another corporate chieftain.

Martin Sullivan has resigned as CEO of American International Group(AIG Quote), according to a report Sunday on The Wall Street Journal's Web site.

Sullivan is being replaced immediately by AIG's chairman, Robert Willumstad, according to the report, which cited one person familiar with the situation. Stephen Bollenbach, an AIG director and a former CEO of Hilton Hotels, will become AIG's lead director, the report said. ...

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