The Associated Press just published a one sentence news alert that AIG Chairman and CEO Edward Liddy will step down as soon as a replacement is found.

I would quote the AP, but seriously, it's just one sentence, so I would basically be stealing the whole article.

UPDATE: More from CNN Money:
"Much work remains to be done at AIG, but much has already been accomplished," Liddy said in a statement. "Our pace of success ... is likely to take several years. AIG should have a leadership team committed to a similar time horizon and prepared to carry the plan to completion."

He also recommended that the CEO and chairman roles be split.