AOL has another new guy from the old media.
The Internet arm of
announced Tuesday that Ron Grant, a veteran from its parent company, will take the reins as its new chief operating officer and president.
Grant previously served as a senior vice president of operations at Time Warner, the world's largest media conglomerate. Having worked closely with Jeff Bewkes, Time Warner's chief operating officer, on AOL's strategy, Grant isn't exactly new to doing business on the Web.
Before he went to Time Warner, Grant was senior vice president of business affairs and development for AOL. He'll head back to the struggling Internet unit to help with its tricky restructuring from a subscription-based business model to an advertising focus.
"From my years at both AOL and Time Warner, I know first-hand about the powerful potential of the AOL business," Grant said in a press release.
The news comes shortly after AOL's announcement that it
poached Randy Falco , chief operating officer at
broadcasting operation, NBC, to replace AOL Chief Executive Jonathan Miller.
"I'm very pleased that Ron Grant has agreed to become the point person on my AOL management team," said Falco in the release. "With his deep knowledge of the AOL business and Internet industry as well as his many relationships across Time Warner, Ron will be critical to our efforts to execute against AOL's new strategy."
Shares of Time Warner closed up 10 cents, or 0.5%, to $20.68.