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AOL Promotes CFO Artie Minson to COO Post

AOL Logo NEW - H 2012

The online company, led by chairman and CEO Tim Armstrong, is also reorganizing into three units.

AOL on Friday said that it has promoted Artie Minson from the post of CFO to the role of COO.

He continues to report to chairman and CEO Tim Armstrong and will oversee a new AOL plan to form three operating units - the AOL membership group, a 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," AOL said.

The firm said it is looking for a successor for the CFO position, but Minson would continue to fill that role until a new executive has been found.

"Artie is a world-class leader and proven operator who has played a key partnership role with me over the last three years at AOL," said Armstrong. "He has significantly improved our balance sheet, cost structure and tax profile, helped unlock significant value for shareholders via asset sales at great prices and led a number of acquisitions, which have been and will continue to be drivers of future growth."

Email: Georg.Szalai@thr.com

Twitter: @georgszalai