AOL's President of Video Is Stepping Down
Dermot McCormack joined AOL in October from Viacom, where he oversaw connected content for MTV and VH1.
Dermot McCormack, AOL's top video executive, is stepping down after less than a year on the job, The Hollywood Reporter has confirmed.
As president of video, McCormack was tasked with programming video platform AOL On with original series and shows that leveraged AOL's portfolio of brands, which include TechCrunch and The Huffington Post. But AOL CEO Tim Armstrong told The Wall Street Journal, which first reported the news of McCormack's departure, that the company's video business has decentralized since McCormack was hired in October and that AOL's brands have begun producing videos on their own.
"We thank Dermot for his many contributions to AOL and wish him all the best in his next endeavor," an AOL spokeswoman said in a statement.
McCormack's departure comes as AOL has been adjusting to its $4.4 billion sale to Verizon, which was announced in June. As part of the reorganization, AOL promoted Huffington Post CEO Jimmy Maymann into a role overseeing AOL contnet and consumer brands.
Under McCormack, AOL revamped its video strategy to a year-round approach to producing content and presented a large slate of short-form series at the Digital Content NewFronts in April. Among them were several sports shows as well as renewals of Park Bench with Steve Buscemi and Making a Scene with James Franco.