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Google's Tim Armstrong Named Chairman and CEO of AOL

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Google Senior Vice President Tim Armstrong has been tapped to replace Randy Falco as Chairman and CEO of AOL.

"Tim is the right executive to move AOL into the next phase of its evolution. At Google, Armstrong helped build one of the most successful media teams in the history of the Internet -- helping to make Google the most popular online search advertising platform in the world for direct and brand marketers," said Jeff Bewkes, Chairman and CEO of Time Warner, parent company of AOL. "He's an advertising pioneer with a stellar reputation and proven track record. We are privileged to have him preside over AOL as its audience and programming businesses continue to grow and its advertising platform expands globally. He'll also be helpful in helping Time Warner determine the optimal structure for AOL."

Armstrong has been with Google since 2000. He led sales efforts in the U.S. and Latin America. Google owns a 5% stake in AOL.

"I'm very excited about the opportunities presented in leading AOL. AOL has a wide-ranging set of assets and audience," said Armstrong. "The company is well positioned to enhance those assets into a larger share of the Internet audience and advertiser communities. AOL and Google have been partners for years and I look forward to collaborating with Jeff Bewkes and his team as we explore the right structure and future for AOL."

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