NEW YORK -(Dow Jones)- Maurice R. Greenberg, the former chief executive of American International Group Inc. (AIG), said Monday in a CNBC interview that AIG shareholders need at least two weeks to digest the slew of information about the company's dismal earnings performance before the annual general meeting is held.

Criticizing the company's management, Greenberg called on the board of directors to consider postponing Wednesday's annual meeting.

In the interview, Greenberg said: "I think shareholders ought to have a couple of weeks, at least...in order to properly assess what they want to do."

The insurer on Thursday reported a $7.8 billion loss in the first quarter largely as a result of a sharp decline in the value of financial instruments linked to subprime mortgages.

Asked if he would advocate a new slate of directors for the board, Greenberg said that is a matter for shareholders to decide. "I can only vote for the shares that I control," said Greenberg, a major holder of AIG shares. Greenberg heads Starr International Co., AIG's largest shareholder.

In a letter to the AIG board that was filed to the Securities and Exchange Commission, Greenberg said the insurer "is in crisis."

He told CNBC: "Look at the earnings, the full year was terrible, the proxy statements came out, people voted, several weeks later, the first-quarter (results) came out, which was even worse. It seems to me that the board should delay the meeting and give shareholders the opportunity to digest this new information so they can vote properly."

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