American International Group Inc said on Thursday that its Chief Executive and Chairman Edward Liddy would step down as soon as a successor is found to take over running the bailed out insurer.

Liddy has recommended to the board that they also seek a second candidate for the chairman role, splitting the two roles, AIG said in a statement.

The board is to launch its search immediately. Liddy will remain on the job until the search is concluded, the company said.

He was appointed CEO at AIG in September within hours of the government stepping in to bail out the company.

(Reporting by Lilla Zuill; Editing by Toni Reinhold.)