AOL President Bob Lord to Depart Company
The AOL president said he wants to run a public company.
Tim Armstrong's one-time successor at AOL is planning to leave the company.
AOL president Bob Lord is expected to transition out of the company by early next year, The Hollywood Reporter has confirmed.
Lord, an advertising technology veteran who became head of AOL Networks from digital agency Razorfish in 2013, announced the move in The Wall Street Journal on Monday by noting that he would like to run a public company or a company nearing an initial public offering. "That's my sweet spot," he told the Journal, adding that he hasn't started seeking a new job because he's "committed to making sure things are tied up at AOL."
Armstrong told the Journal that he had been grooming Lord as his successor, but after Verizon acquired the aging tech firm in May for $4.4 billion, Armstrong reupped at AOL with a long-term contract. He said there are no plans to replace Lord because the sale of AOL has freed him up to help run the company day-to-day.
As often happens after a sale, AOL has seen some executive shuffle in recent months. The company, which Verizon acquired largely for its advertising technology, promoted Huffington Post CEO Jimmy Maymann into a new role overseeing content and consumer brands in August, and a month later president of video Dermot McCormack stepped down.