Updated: Randy Boe, EVP, EVP-consumer advocacy and security, is also leaving…see note below.
More upheaval at AOL, as the company goes through a transition period under a new leadership: three of the top EVP at the company are leaving, paidContent.org has learned. These are: Jim Bankoff, EVP, Consumer & Publisher Services; Joe Redling, President, AOL Mobile, Customer Management & Paid Services, and Chairman & CEO, AOL International; and John Buckley, EVP, Corporate Communications.
No, they were not fired, contrary to some earlier rumors, but had change-of-management exit clauses in their contracts (much like Jason Calacanis had; he left last month), and decided now was the best time to look at other options. This will certainly be a blow to AOL because each of these execs were deeply involved with the company’s move to open Web and new strategy, and the company would need to replenish ranks to fill their responsibilities.
There would be some transition period before they finish up. Also, expect some more changes in the next few weeks in the management ranks. We haven’t heard back from the official AOL PR machinery yet. AOL spokesman Andrew Weinstein declined to comment.
Update: Also leaving will be John McKinley, the interim CTO (formerly president of AOL’s digital services division)…he was brought in after the AOL data leak fiasco in August, with the explicit understanding that the job would last till the end of this year. Again, the lesson: people who have clauses are certainly exercising them.
In related news, AOL Europe’s president Carlo D’Asaro Biondo, who announced his leaving yesterday, has joined Lagardere, the French media conglomerate, as the “international managing director” of its multimedia/interactive arm. The recently created Lagardere Active Media division aims to combine its magazine arm and its radio, internet and TV operations.
Staci adds: So who’s staying at that level? We’ve been told the following execs at EVP level and above are expected to stay: Keven Conroy, EVP-AOL Products, Marketing and Distribution; Mike Kelly, president, Media Networks; Lance Miyamoto, EVP-HR; Ira Parker, EVP & general counsel; Stephen Swad, EVP & CFO. But the structure under new Chairman and CEO Randy Falco is expected to be quite different; in some respects, it could make more sense than the current org chart. Plans call for the new structure from Falco and COO Ron Grant to be announced early next week.
Update II: The Washington Post reports that Randy Boe, former general counsel and current EVP-consumer advocacy and security is also leaving. WaPo also adds a Time Warner response to the popular notion that Falco is there to clean house to prepare for a sale. Spokesman Ed Adler, essentially repeating what was said the week before during TW media week presentations: “We’ve said consistently that AOL is not for sale. It’s a vibrant part of our company, and the new strategy is working.” Then again, TW COO Jeff Bewkes was patting Miller on the back in Dulles the day before word leaked that he was being replaced.
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