Lyne’s appointment is part of AOL’s continued efforts to streamline its operations and give its business unit leaders more autonomy and accountability. AOL has three business units –The Membership Group, which consists of offerings that serve AOL account holders, AOL Networks, which consists of AOL's offerings to publishers and advertisers utilizing AOL’s third-party advertising network, and the Brand Group, which consists of AOL's portfolio of distinct and unique content brands. All three business units were overseen by AOL’s Chief Operating Officer, Arthur “Artie” Minson, who will stay with the company for a transition period.
“In his role first as CFO and most recently as COO, Artie has done an extraordinary job of optimizing AOL’s assets and has created a tremendous amount of value for shareholders,” Armstrong said. “Artie has played a key role in the turnaround of AOL and that will continue in 2013 during the transition period.”
“I came back to AOL three and a half years ago with the goal of returning AOL to being a growth company,” said Minson. “With that accomplished, I have decided to stay and continue to work closely with Tim during this transition period. I look forward to AOL’s continued success.”
About AOLAOL Inc. (NYSE: AOL) is a brand company, committed to continuously innovating, growing, and investing in brands and experiences that inform, entertain, and connect the world. The home of a world-class collection of premium brands, AOL creates original content that engages audiences on a local and global scale. We help marketers connect with these audiences through effective and engaging digital advertising solutions.