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. The new director would agree in advance to succeed Hancock as CEO if asked to do so by the board, Icahn said in a statement, adding that he would reach out to shareholders by starting a “consent solicitation” soon. The move would return more cash to shareholders, Icahn said, and would help AIG rid itself of a regulatory burden.