Big losses and having to raise $20 billion has been too much for AIG’s (AIG) largest investors. They are expected to get their way today. The AIG board will jettison CEO Martin Sullivan.

According to The Wall Street Journal, AIG Chairman Robert Willumstand, a former high level fellow from Citigroup (C) may get the job.

Once Sullivan is gone, the AIG balance sheet will be just as ugly.

Douglas A. McIntyre