AOL, Still Shaking Up Staff, Hires New CFO Artie Minson
Newish AOL CEO Tim Armstrong hasn’t gone on a massive firing binge. But he’s still shaking up the ranks at the Time Warner (TWX) unit. Today, for instance, he is installing a new chief financial officer: Artie Minson, the deputy CFO at sister company Time Warner Cable (TWC). Minson replaces Nisha Kumar, who held the spot for two years.
Minson is actually rejoining AOL–he was previously an SVP in its finance department and left to join Time Warner Cable prior to its own spinoff from Time Warner.
It’s one of a series of top-level moves Armstrong has made since leaving Google (GOOG) to run the Internet pioneer, now set to be spun off by its parent company later this year (if it isn’t sold first). He brought in Jeff Levick, another Google vet, to replace Greg Coleman as sales boss. And he purchased Patch Media, the local media company he had invested in, installing its CEO as the head of a newly created AOL venture arm. Former Bebo boss Joanna Shields is also out the door.
Here’s the release:
AOL NAMES ARTHUR MINSON AS CHIEF FINANCIAL OFFICER
Time Warner Cable Deputy CFO Rejoins AOL; Brings Critical Expertise from Time Warner Cable’s Successful Transition to Independent Public Company
New York, NY, August 27, 2009–AOL today named Arthur Minson as the company’s new Executive Vice President and Chief Financial Officer. Minson joins AOL from Time Warner Cable (NYSE: TWC), where he has served as Executive Vice President and Deputy CFO and helped manage that company’s separation from Time Warner. Prior to his role at Time Warner Cable, Minson led AOL’s Corporate Finance and Development activities. ??”We’re delighted to have Artie back at AOL as we continue our transition to an independent public company,” said AOL CEO Tim Armstrong. “Artie’s strong financial acumen, operating experience, and deep understanding of our company and the Internet and content industries make him a perfect fit for AOL. He’s also a public company veteran who helped handle Time Warner Cable’s transition to a public company. Artie will hit the ground running and be a tremendous asset to AOL as we focus on driving growth, value and innovation.” ?”This is a wonderful opportunity to rejoin AOL at one of the most important and exciting times in this great company’s history,” said Minson. “AOL has an incredible collection of assets, and Tim has set the company on the right strategic course. I look forward to working with Tim and the entire AOL organization to help maximize the financial and operating performance of these assets and their value for investors.” ?In his new role, Minson will oversee the Company’s financial functions including accounting, financial planning and analysis, tax, treasury, human resources, mergers and acquisitions, and internal audit. Minson will be headquartered in New York City and will begin at AOL on September 8, 2009.? ?Minson previously served as Executive Vice President and Deputy Chief Financial Officer at Time Warner Cable, overseeing the company’s accounting, financial planning and analysis, operations finance, corporate services, and internal audit functions. He also worked closely with TWC’s treasury and IR departments, as well as senior management, to craft company strategy in those areas.
Minson joined Time Warner Cable in 2006 in connection with its planned IPO. Prior to that, Minson was Senior Vice President, Corporate Finance and Development at AOL, where he was responsible for financial planning and analysis, mergers and acquisitions and corporate financial administration. He’s also held senior finance positions at Rainbow Media Holdings, Inc. and Time Warner Inc. Minson, a CPA, began his career in the Audit Practice of Ernst and Young as one of Time Warner’s principal outside auditors. He holds a BSBA in Accounting from Georgetown University and an MBA with a concentration in Finance from Columbia Business School.? ?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. ??Minson is replacing Nisha Kumar, who left the company earlier this summer.