Friday, March 13, 2009

Google VP named CEO of AOL

WASHINGTON (AFP) - - Tim Armstrong, a senior vice president at Internet search king Google, was named chairman and chief executive of troubled Web company AOL on Thursday.

Jeff Bewkes, chairman and chief executive of Time Warner Inc., AOL's parent company, also announced that current AOL chairman and chief executive Randy Falco and president and chief operating officer Ron Grant were leaving AOL.

"Tim is the right executive to move AOL into the next phase of its evolution," Bewkes said in a statement.

"At Google, Armstrong helped build one of the most successful media teams in the history of the Internet -- helping to make Google the most popular online search advertising platform in the world for direct and brand marketers.

"He's an advertising pioneer with a stellar reputation and proven track record," Bewkes said. "He'll also be helpful in helping Time Warner determine the optimal structure for AOL"

Armstrong, who most recently was in charge of US operations for Google, said he was "very excited about the opportunities presented in leading AOL.

"AOL has a wide-ranging set of assets and audience," he said. "The company is well positioned to enhance those assets into a larger share of the Internet audience and advertiser communities."

AOL was a powerful player in the early days of the Internet but has lost ground since then and has been trying to refashion itself as a popular one-stop Web portal. is the number four gateway to the web after Google, MSN and Yahoo!

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