facebook
twitter
rss
account
search
search
 

Time Warner names new AOL chief

March 13, 2009 at 10:54 AM   |   Comments

NEW YORK, March 13 (UPI) -- U.S. cable television giant Time Warner has replaced two top AOL executives with one from Google, the company said.

AOL's named Google Senior Vice President Tim Armstrong as its next chairman and chief executive officer. Current Chairman and CEO Randy Falco and Chief Operating Officer and President Ron Grant "plan to leave the company after a transition period," Time Warner said in a statement.

Time Warner Chairman and CEO Jeff Bewkes said, "Tim is the right executive to move AOL into the next phase of its evolution."

"He is an advertising pioneer with a stellar reputation and a proven track record," he said.

Bewkes also said, "under Ron and Randy, AOL's programming sites exhibited year-over-year growth in unique visitors for 23 consecutive months."

But, all hasn't been well with the previous regime, which was marked by executive departures and thousands of jobs lost, The New York Times reported Friday.

The company's revenues from its subscription business has "dwindled," the Times said.

Armstrong told the Times he was taking advantage of a timely opportunity.

"I'm 38 years old and this gives me the opportunity to move on my own and lead a company forward," he said.

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback