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AOL boss departs, NBC exec steps up
CEO change...

By Elinor Mills

Published: Thursday 16 November 2006

Time Warner has hired the president of NBC Universal Television to be chairman and chief executive of its AOL internet subsidiary, replacing Jonathan Miller.

Randy Falco, president and chief operating officer at NBC Universal, has been responsible for operational functions, including network and cable sales, affiliate relations, cable distribution, network and studio operations, and worldwide television distribution, Time Warner said in a statement.

It was unclear when Miller would leave his post, why he was being replaced, or whether he was being demoted or leaving the company. A Time Warner spokesman said: "We don't know what his plans are at this point."

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No start date had been determined yet for Falco, and Miller remains in charge until then, the spokesman said.

He added: "Jon has done a fantastic job of creating a strategy for AOL to succeed. The company has now chosen someone with a proven track record to be able to execute operationally."

Time Warner chief executive Dick Parsons said in the statement: "Randy is a first-rate choice to ensure AOL realises its promise. We thank Jon Miller for his four years of far-sighted leadership during a difficult time at AOL. We wish him well as he moves into the next phase of his career."

Miller was hired in 2002 at a time when ad revenue losses and a subscriber slowdown at AOL was blamed for dragging down the company's stock price.

After numerous revamps, Miller oversaw AOL's reorganisation this summer from a subscription-based business model to one supported by advertisements. At the time, the company said it planned to reduce its work force by 5,000 and has been closing offices and laying off employees since.

That strategy has "shown some early results," the company spokesman said, evidenced by a 46 per cent rise in online ad sales at AOL in the most recent fiscal quarter.

Elinor Mills writes for CNET News.com