After several years of controversy over possible successors to its long-time CEO, giant American insurer AIG has finally moved to fix the problem.

A reshuffle announced last week has created a new Office of the Chairman, in which a swag of executives will presumably set out to prove that they’re the chap to replace elderly Maurice Greenberg, who has run the company with remarkable ability for the past 35 years.

AIG directors Martin Sullivan and Edmund Tse will take up positions as co-chief operating officers. Mr Sullivan and CFO Howard Smith will also fill the role of Vice-Chairman together. And newly appointed director Frank Zarb will take up a non-executive role as chairman of the board’s executive committee.

The Office of the Chairman will be an interesting place: Mr Sullivan and Mr Tse, as well as three other senior executives and Mr Greenberg himself, will start running the place together.