AOL picks nine-member board of directors

Including prominent Hollywood and media names

NEW YORK -- AOL has picked a nine-member board of directors that includes prominent Hollywood and media names.

Former William Morris chairman and CEO James Wiatt, recently retired CBS Corp. CFO Fredric Reynolds, former FCC chairman Michael Powell and Paley Center boss Patricia Mitchell will join executives from the Internet, finance and marketing worlds on the board that will form once AOL's separation from Time Warner is completed later this year.

AOL CEO Tim Armstrong oversees the board as chairman.

"AOL is on a mission to help create the future of media and content, and the AOL board will play a central part in helping us focus the strategy and also operate the company with the highest ethical standards," said Armstrong. "These individuals bring independent judgment and a dedication to building shareholder value."

Powell has since 2005 served as a senior advisor to Providence Equity Partners, the private equity firm focused on media, entertainment, communications and information investments.