AOL COO Artie Minson is stepping down.
Eventually, he's going to leave the company.
Running brands was one of Minson's responsibilities, so this all makes some sense.
Lots of people give Artie Minson credit for getting AOL as healthy as it is.
One of these people is CEO Tim Armstrong, who says in a release:
“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. Artie has played a key role in the turnaround of AOL and that will continue in 2013 during the transition period.”
Minson got his start optimizing subscriptions at Time Warner Cable, and then brought the same expertise to AOL to great effect.
Minson will stick around and report to Armstrong during a transition period that could last as long as a year.
Here's the release:
Susan Lyne, Vice Chairman of Gilt and AOL board member, has been appointed to run AOL’s portfolio of brands that serve over 100 million consumers globally.
Lyne will oversee all aspects of the Brand Group’s growth strategy, including increasing traffic across properties, maximizing partnerships with advertisers and publishers, and attracting top talent, with a particular focus on content, design, programming, and product.
“In her roles as CEO then Chairman of Gilt, and previously as President and CEO of Martha Stewart Living Omnimedia, Susan has a proven track record of brand building and aggressive growth,” said Tim Armstrong, Chairman and CEO. “I know she’ll bring that same drive and growth-oriented mentality to our Brand Group. AOL ended 2012 growing revenue for the first time in eight years, and we expect Susan to help build on this momentum and take our brands to the next level.”
“In my three years as an AOL board member, I have partnered with Tim Armstrong and my fellow directors to help drive the company’s transformation, and have seen AOL make great strides as it continues to innovate, grow and evolve,” Lyne said. “I’m looking forward to contributing to the company’s continued evolution in my new role, and will focus on creating additional value with all of AOL’s premium brands. Our efforts center on making all of our brands true destinations for audiences worldwide, and to provide marketers with innovative opportunities to connect with these audiences.”
Lyne recently transitioned from her role as Chairman of Gilt to become Vice Chairman. She will continue in that role.
In addition to her roles at Gilt and Martha Stewart Living Omnimedia, Lyne brings a decade of experience in the television industry, including serving as President of ABC Entertainment, where she oversaw the development of shows such as Desperate Housewives, Lost, and Grey’s Anatomy. Lyne’s convergence of experience, encompassing media, television and the digital industry, will be particularly valuable to AOL.
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.”
AOL Inc. (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.
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