BoomTown Will Have What Greg Coleman's Having: HuffPo Ad Sales Head Scores Big Bucks Twice From AOL's Armstrong

AOL CEO Tim Armstrong is the gift that keeps on giving–at least to Greg Coleman. He’s the Chief Revenue Officer at the Huffington Post–for which the Internet giant just forked over $315 million to acquire–who will get a multimillion dollar payout from the deal. Except Coleman is the same guy whose three-year contract as AOL’s onetime sales head was paid out by Armstrong after he was replaced after only three months.

The Entire Internal Memo About AOL's Ad Head Switcheroo

As BoomTown reported earlier today, I just got sent the entire internal email–penned and just sent out by AOL CEO Randy Falco–about the replacement of its Platform-A President Lynda Clarizio with former Yahoo top advertising sales exec Greg Coleman. An AOL press release has also gone out about the move, made to turbocharge the flagging fortunes of its online ad business. “No doubt Greg is joining Platform-A at a difficult time,” writes Falco in the memo. “The deepening economic recession is affecting every corner of the economy, including our own.” Translation: Yahoo was kindergarten! Get to work pronto, Greg!

AOL Ad Head Clarizio Out–Being Replaced by Former Yahoo Sales Head Coleman

The game of executive musical chairs among Web companies keeps on going, with sources telling BoomTown that AOL ad head Lynda Clarizio will be departing the online service and be replaced by former high-ranking Yahoo advertising exec Greg Coleman. The move at AOL, which has been in the works for only a week, could be announced as early as today, although I have been hearing rumors of such a development since late last week. Both AOL’s content and communications units have been getting an overhaul of late, and now it seems it is time for its lackluster ad business.