Senior AOL executives said to be leaving
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Three senior executives are leaving AOL following a recent shake-up that brought in a veteran NBC executive as the online company's new chief executive, two people familiar with the matter said Friday.
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ComcastÂs two longtime chief financial officers will retire next year and will be succeeded by an executive from a private equity firm.
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As first reported by the Washington Post, America Online is expected to eliminate more than 700 jobs from its workforce next month. The majority of the layoffs will occur at AOL's Dulles, Virginia headquarters where nearly 5,000 are presently employed. Analysts cite AOL's dwindling subscriber base; however, a company spokesperson refused to validate that assertion. Officially, AOL has no comment.
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(InfoWorld) - AOL on Monday confirmed to its employees the rumored departure of several senior executives and announced a reshuffling of top-tier management duties in a memo penned by Randy Falco,Â the new chief executive officer. Five high-level executives are leaving, all of whom reported directly to Jonathan Miller, the former CEO whoÂ was abruptly fired in mid-NovemberÂ to the surprise of many. Four of them figured prominently in Miller's strategy,Â outlined in September, to complete AOL's radical transformation from a provider of dial-up Internet access that charged for most of its content and services to an open and free Web portal focused on online advertising revenue. Miller had been praised for early success in transitioning the company to an ad-driven model, and some AOL observers are concerned that the shakeup could destroy the momentum he built up. In particular, some view with skepticism that Miller has been replaced by a TV industry veteran and not an Internet specialist. Falco was president and chief operating officer of the NBC Universal Television Group. In Monday's memo, obtained by IDG News Service, Falco praised Miller's plan but said it needed to be "tighter, clearer and better focused on operations" with a greater focus on execution and with more accountability "built into the organization." "In such crucial areas as our speed to market and innovating new products, we have much work ahead of us," Falco wrote. Heading out the door are Jim Bankoff, executive vice president of consumer and publisher services, and Joe Redling, president of AOL Mobile, customer management and paid services, and CEO of AOL International. Joining them will be John McKinley,Â whom AOL had already acknowledged was leaving. Randy Boe, executive vice president for consumer advocacy and privacy, has also resigned, as well as John Buckley, executive vice president of corporate communications. Falco's memo doesn't say when these men will leave. All decided to resign on their own accord, sources said. "AOL has just gone through elements of a significant reorganization, and I know that the departure of well-respected colleagues and friends is not easy for anyone here," Falco wrote. Eight executives will report directly to Falco, including Ted Leonsis, AOL vice chairman; Ron Grant, president and chief operating officer; and Steve Swad, chief financial officer. Grant, a former senior VP of operations at parent company Time Warner Inc. who arrived after Miller's departure, will oversee AOL's business units: products, programming, platforms, AOL media networks, paid services, and international. The new CTO, Balan Nair, will also report to him, "because smoothly integrating our technology resources into the business units has been such a priority," Falco wrote. Kevin Conroy, who reported directly to Miller, will be in charge of products, including AOL Mail, the AOL PC software, portals, video and video search, storage, safety and security products, AIM and mobile products. Bill Wilson will head AOL's programming, an area Bankoff ran, while Falco is still looking for someone to oversee AOL's platforms, including the search engines, e-commerce offerings and online mapping site MapQuest. Mike Kelly, who also reported directly to Miller, will continue to head AOL Media Networks, which includes the key ad sales operation. Kim Partoll, who reported to the departing Redling, will continue in her role managing AOL's paid services. Another area Redling managed, international, still lacks a chief.
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The departure of Farzad Nazem will follow other senior executives who have left in the wake of the overhaul.
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The Microsoft executive who had led the effort to close the gap on Google is leaving the company.
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After a big drop in subscribers and planned layoffs, Sprint Nextel's top financial, marketing, and sales executives are leaving the company.
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AOL Chief Financial Officer Steve Swad will join a private-equity firm and become the latest senior manager to leave as the Internet company tries to transform itself into an online advertising conduit.
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AOL on Monday confirmed to its employees the rumored departure of several senior executives and announced a reshuffling of top-tier management duties in a memo penned by Randy Falco,Â the new chief executive officer.
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Bill Nelson and three other top executives with long careers at HBO will replace Chris Albrecht, who resigned.
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(InfoWorld) - A month afterÂ Jonathan Miller was fired unexpectedlyÂ as AOL chief executive, three of the senior executives who reported directly to him and who oversee key areas of AOL's business are on their way out,Â sources say. Jim Bankoff, executive vice president of consumer and publisher services, and Joe Redling, president of AOL Mobile, customer management and paid services, and chairman and CEO of AOL International, will leave the company soon, along with John Buckley, executive vice president of corporate communications. All three are still with the company but have set the process in motion to pack their bags and move on, taking advantage of a so-called "change of control" clause in their contracts, sources said. Joining them will be John McKinley, who, as had been confirmed previously, is leaving at the end of the year after a temporary stint as chief technology officer. Like Miller's dismissal, the departures of Bankoff and Redling will no doubt send shockwaves through the management ranks at AOL. Both were top generals for Miller, who chose them to figure prominently in the restructuring plan he drafted and began to implement in September. "Jim will have the dedicated distribution, adoption and technology resources to be able to manage his portfolio of programming initiatives, from instant messaging to social networking sites such as AIM Pages," Miller wrote of Bankoff in a memo in September in which he outlined the plan. In that document, Miller also assigned Bankoff the task of developing a new publishing and content-management system, calling the project "a priority for the company that Jim will spearhead." Meanwhile, Miller called Redling "one of AOL's most capable executives" and described Redling's main business responsibilities -- mobile, customer relationships and international -- as "three key initiatives that directly address our future." Redling was supposed to boost AOL's advertising business abroad, while designing a new international structure. In mobile, Redling was entrusted with developing an area in which Miller said AOL had never placed enough investment or focus. The departures of Redling and Bankoff will likely make industry observers wonder if AOL runs the risk of derailing, at a time when it is undergoing a critical structural and strategic overhauling. Before his sudden ouster, Miller had garnered general praise from pundits for steering AOL through a radical transformation, from a company focused on dial-up Internet access subscription fees to one focused on online advertising. Miller's replacement, Randy Falco, is a TV industry veteran who was president and chief operating officer of the NBC Universal Television Group and doesn't come from the Internet field. Bankoff has been with AOL since 1995, and has held a variety of positions, including president of AOL Web Properties and president of AOL eCommerce. Redling came to AOL in 1999 as senior vice president of marketing for the AOL service and was later promoted to marketing president. An official announcement from AOL about the impending departures of these executives and their replacements is likely to come next week, sources said. AOL declined to comment.
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AOL, the Dulles-based Internet pioneer, yesterday said it was moving its headquarters to New York, transferring the leadership of a company that fueled the growth of the Washington area's technology industry over the past decade.
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AOL, a unit of Time Warner Inc , said on Monday it will move its corporate headquarters to New York City from Dulles, Virginia, amid a realignment of its advertising business.
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AOL is moving its corporate headquarters from Dulles to New York, the company announced today, ending a saga that helped cement Washington's identity as a technology center but also gave rise to corporate scandal and ill-fated dealmaking.
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LLU pioneer Sky-bound? AOL Europe's CTO Colin McQuade, described by one insider as "the last man standing", has quit the firm, which is struggling for a niche after flogging its broadband customers to Carphone Warehouse.â¦
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Two senior executives will leave Dell Inc. in an expanding shake-up in the U.S. computer maker's top management ranks, a published report said Tuesday.
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AOL's chief executive announced yet another restructuring of the online company's corporate structure Monday, creating a senior position to market its brand while naming several executives who will report to a newly appointed deputy.