(By Balaseshan) AOL Inc. (NYSE:AOL), a global web services company, said it has promoted Finance Chief Artie Minson Jr. to Operating Chief, to oversee the reorganization of its operations into three units.
Minson will be overseeing AOL's plan to form three operating units: 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.
As Chief Operating Officer, 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.
He will continue to report to Chairman and Chief Executive Tim Armstrong, and the company is actively interviewing replacement candidates for Finance Chief position.
AOL has engaged Peter Crist to help fill the Chief Financial Officer (CFO) role, and Minson will continue to serve as CFO until new leadership is in place.
The AOL Membership Group would include the teams that serve AOL account holders, both free and paid members. The Content Brands Group would include AOL's portfolio of distinct and unique content and service brands.
The Advertising.com Group would continue to include AOL's B2B services and network businesses such as ADTECH, Pictela, GoViral, 5Min and The AOL On Network.
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 anticipates to complete that process by the end of the year.
AOL closed Thursday's regular session up 0.70% at $27.50. The stock has been trading between $10.06 and $28.36 for the past 52 weeks.