Researchers are speculating about what American International Group Inc., New York, might look like without Maurice Greenberg.[@@]
In reaction to reports in The Wall Street Journal and The New York Times that Greenberg, AIG’s chairman, could be on his way out, Morgan Stanley Equity Research put out a bulletin today suggesting that Greenberg’s departure could lead to “prolonged weakness” in AIG’s stock.
AIG stock tumbled 2% on Friday to $64.71, after analysts began wondering whether regulatory scrutiny of AIG’s activities was the reason Greenberg bailed out of a Webcast involving Goldman Sachs Group Inc., New York, Thursday night.
AIG announced Thursday that the Goldman Sachs client meeting had been “postponed.” AIG gave no reason for the action.
AIG also said it was delaying a client session scheduled for today with J.P. Morgan Chase & Company, New York.
No future dates were listed for either the Goldman Sachs session or the J.P. Morgan session.
The Wall Street Journal is reporting that the AIG board met Sunday to discuss Greenberg’s retirement, and The New York Times is reporting that Greenberg has retained criminal defense attorney Robert Morvillo.