By Joey Gardiner, 15 July 2002 14:25
NEWS AOL Time Warner has officially confirmed it is looking for a replacement for Bob Pittman, the CEO of its internet business. Pittman was given the role just three months ago, but in a further sign that the old media business of Time Warner is eclipsing its once-mighty web operation, Pittman has been forced out. Reports suggest Pittman will be replaced by someone from the Time Warner side of the business. Pittman, who was part of AOL before the merger, will return to the role of COO of the combined company, which he held before the appointment. AOL has been hit hard by falling advertising revenues and has hampered growth of the company as a whole. The position is becoming something of a poisoned chalice: Pittman himself replaced Barry Schuler as CEO of AOL after the latter spent just 12 months in charge. He too was ditched for failing to improve the performance of AOL's advertising.
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