"AOL is very fortunate to have an exceptional group of proven leaders to serve on our board of directors. 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, and they will be a tremendous resource for our company, our employees, and our future." Board members named to date:
Richard Dalzell previously SVP and Chief Information Officer of Amazon.com, Inc., until 2007. Previously, served in numerous other positions at Amazon, including SVP Worldwide Architecture and Platform Software and Chief Information Officer from 2001 to 2007, SVP and Chief Information Officer from 2000 to 2001 and VP and Chief Information Officer from 1997 to 2000. Prior to Amazon, Dalzell was VP Information Systems Division at Wal-Mart from 1994 to 1997.
Karen Dykstra is a partner at Plainfield Asset Management LLC, and has been COO/CFO Plainfield Direct Inc. since 2006. Plainfield Asset Management LLC manages investment capital for institutions and high net worth individuals based in the United States and abroad. Plainfield Direct Inc. is a business development company managed by Plainfield Asset Management. Prior to joining Plainfield, Dykstra was the CFO Automatic Data Processing, Inc., a provider of transaction processing and information-based business solutions, from 2003 to 2006. Dykstra serves on the boards of Plainfield Direct Inc., Gartner, Inc. and Crane Co.
William R. Bill Hambrecht founded and has been chairman and CEO of WR Hambrecht + Co since 1998. WR Hambrecht + Co is a financial services firm specializing in Internet and auction processes and providing underwriting and advisory services for technology and emerging-growth companies. Before that, Hambrecht co-founded Hambrecht & Quist. In 2007, Hambrecht co-founded the United Football League, which premiered in October 2009. Hambrecht has served as a director of numerous private and public companies and currently serves on the board of Motorola, Inc.
Patricia Mitchell has served as president and CEO of The Paley Center for Media, a global non-profit cultural institution dedicated to the discussion of the cultural, creative and social significance of television, radio and emerging platforms, since 2006. The Center also convenes executives of global media companies on business issues and subjects of mutual interest, providing a neutral non-competitive forum. Before that, Mitchell was president and CEO of the Public Broadcasting Service from 2000 to 2006, where she oversaw the digital conversion of 359 public television stations and development of a system-wide digital content initiative. For more than two decades, she was an award-winning journalist and producer, serving as reporter, anchor, talk show host, producer and executive for three broadcast networks and several cable channels. She has served as president of Time Inc. Television and CNN Productions, and was a partner in an independent production company which focused on women's programming. Mitchell serves on the board of Sun Microsystems, Inc.
Michael Powell has served as a senior advisor to Providence Equity Partners, a private equity firm focused on media, entertainment, communications and information investments, since 2005. Powell is also chairman of the MK Powell Group, which focuses on strategic advice in the areas of technology, media and communications. Previously, Powell served as chairman of the Federal Communications Commission from 2001 to 2005. He also served as the Chief of Staff of the Department of Justice's Antitrust Division and was an associate with the law firm of O'Melveny & Myers LLP. Powell serves on the boards of Cisco Systems, Inc. and Education Management Corporation. He was also named Chairman of NTT DoCoMo's 5th U.S. Advisory Board.
Fredric Reynolds was with CBS Corporation and its predecessor companies from 1994 until he retired in August 2009. Reynolds was EVP and CFO of CBS Corporation from 2005 to 2009. He also served as president and CEO of the Viacom Television Stations Group of Viacom, Inc., and President of the CBS Television Stations Division of CBS, Inc. Before that, he was EVP and CFO of Viacom, Inc., CBS Corporation and Westinghouse Electric Corporation. Reynolds joined Westinghouse from PepsiCo Inc. Reynolds serves on the board of Kraft Foods Inc.
James Stengel has been president and CEO of The Jim Stengel Company, LLC, a think tank and consulting firm conducting proprietary research, generating thought leadership and applying a new framework to drive business growth, since 2008. Stengel is also currently an adjunct marketing professor at UCLA's Anderson School of Management. Stengel worked at Procter & Gamble from 1983 to 2008, holding a variety of positions including Global Marketing Officer from 2001 to 2008. Stengel serves on the board of Motorola, Inc.
Jim Wiatt has been an independent consultant since June 2009. Wiatt served as chairman and CEO of the William Morris Agency from 1999 until 2009, overseeing all areas of the entertainment company, including motion picture, television, music, publishing, theater, digital, sports marketing, business development, investments and corporate consulting. Before joining WMA, Wiatt was Co-Chairman and Co-CEO of International Creative Management, a talent management company. Wiatt is a member of the Board of Councilors of the USC School of Cinematic Arts, former Chairman and current member of the Board of the Los Angeles Police Foundation, and on the Board of Directors of the Music Center of Los Angeles.
On May 28, 2009, Time Warner Inc. announced that its Board of Directors had authorized management to proceed with plans for the complete legal and structural separation of AOL from Time Warner. Following the proposed transaction, AOL would be an independent, publicly traded company. Time Warner has indicated that it aims to complete the proposed transaction around the end of this year.
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