Billionaire investor Carl Icahn said he may propose to add a new director to American International Group's board, saying CEO Peter Hancock was unlikely to "sincerely consider" his suggestion to split the company into three.

"We intend to commence shortly a consent solicitation that will enable shareholders to express their views directly to the board," Icahn said in a statement. (

Icahn disclosed on Monday that he owned 42 million shares in AIG as of Oct. 28, which would make him the insurer's fifth largest shareholder, according to Thomson Reuters data.