DOW JONES NEWSWIRES
AOL veteran and Time Warner Cable Inc. (TWC) executive Arthur
Minson was named as chief financial officer of the struggling
Internet company in advance of its spinoff from parent Time Warner
Inc. (TWX).
The move is expected around the end of the year and would give
Minson oversight of his second spinoff from the media giant. He
joining the company in 2006 in connection with its initial public
offering and March separation from Time Warner. He was deputy CFO
at the cable company, and before that led AOL's corporate finance
and development activities.
Minson succeeds Nisha Kumar, who left the company earlier this
summer.
The spinoff of AOL will mark the culmination of its disastrous
$100 billion takeover of Time Warner in 2001.
AOL is attempting to make a transition from its roots as a
subscription-based business for connecting with the Internet to an
ad-supported digital media company. Chief Executive Tim Armstrong's
strategy for AOL involves building its display-advertising business
and becoming a top producer of digital content, such as Web sites
and online video.
Several details related to the spinoff remain unclear. Time
Warner has yet to determine how much Time Warner debt AOL will
carry.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
tess.stynes@dowjones.com