Two board members at Corebridge Financial Inc. (NYSE: CRBG) resigned March 23, 2026, following American International Group Inc.'s reduction of its ownership stake in the company.

Rose Marie Glazer and Adam Burk stepped down from the board effective at the close of business March 23. The company stated their resignations were not related to any disagreement with Corebridge's operations, policies or practices.

The resignations followed Corebridge's repurchase of its common stock from AIG on February 17, 2026. The company bought back shares at $30.42 per share for approximately $750 million, reducing AIG's ownership interest to about 5%.

Under the separation agreement between Corebridge and AIG dated September 14, 2022, AIG's reduced ownership triggered a decrease in the number of board members it could designate from two to one. AIG subsequently waived its remaining board designation rights March 23, reducing its designated board positions to zero.

The board changes required approval from insurance regulators, which the company said has been obtained. The separation agreement was previously amended May 16, 2024.

The information is based on a company statement.