AOL Inc. (AOL: Quote) announced the promotion of Artie Minson, from CFO to Chief Operating Officer, overseeing AOL's plan to form three operating units, namely AOL Membership Group, Content Brands Group, and the Advertising.com Group.
This new role and operating structure will allow the company to go deeper on its focus on profitability, coordinated business execution, and resource allocation across its portfolio of brands and services. He will continue to report to Tim Armstrong, Chairman and CEO, AOL. The company is actively interviewing replacement candidates for AOL's CFO position.
As COO, Minson will oversee AOL's plan to form three operating units and execute a cohesive operating model that will allow AOL to focus on driving growth and improved profitability across its businesses.
The corporate areas of the business including sales, technology, corporate communications, brand marketing, finance, legal, and human resources will continue to report to AOL's CEO and Chairman and will be focused on supporting AOL's operating units. The company has initiated the process to prepare detailed profitability information for each of these operating groups, and expects to complete that process by the end of the year.
AOL has engaged Peter Crist to help fill the CFO role, and Minson will continue to serve as CFO until new leadership is in place.
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by RTT Staff Writer
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