AOL's Steve Case Resigns

Fox News

[StopDemocratsDotCom]

breakin

[ican'tbelieveit]

It has been rumored for months now he would be gone within a year. After they kicked out Pittman, it was only a matter of time.

[Dog]

Some detail would help...

[Paul_B]

How the mighty have fallen.


Steve Case resigns as AOL Time Warner chairman
1/12/2003 6:37:00 PM

NEW YORK, Jan 12 (Reuters) - AOL Time Warner (AOL) on Sunday said Steve Case will step down as chairman of the company following the shareholders' meeting in May, but remain as a director of the company with joint responsibility for corporate strategy.

Case, the architect of the troubled mega-merger of America Online and Time Warner, in a statement said his role as chairman had become a "distraction" for the world's largest media company in the face of disappointment with its post-merger performance.

The company said Case notified Chief Executive Dick Parsons and the board of directors of his decision over the weekend. Case will remain a member of AOL Time Warner's board of directors and continue as co-chair of its strategy committee.

The embattled executive said that under a new leadership team AOL Time Warner could focus on executing the company's various strategies.

"Given this progress and the fact that we're moving into more of an execution phase, this seems like an appropriate time for me to announce that I will step aside," Case said.

[conservativefromGa]

[Robert_Paulson2]

another clinton butt-buddy bites the dust...
good riddance.

[Constitution Day]

An "AOL: Internet for Dummies" BUMP!

[LenS]

Since everyone at AOL-Time Warner is a Clinton butt buddy, I don't see this changing much. Worse, doesn't this mean that Ted Turner is in charge now?

[marajade]

breaks my heart...

[RCW2001]

Damn it! I was hoping Drudge might have a decent show this evening...

No doubt he will drone on and on and on over this. ;?

[Petronski]

I only wish Michael Eisner could hear such footsteps behind him...

[clintonh8r]

He sure duped those Time Warner execu-jerks with the merger deal. What a bunch of fools. Ted Turner must be laughing right now.

[motife]

AOL Time Warner's Case to stand down in May
By Financial Times reporters in New York
Published: January 12 2003 23:52 | Last Updated: January 12 2003 23:52


Steve Case, chairman of AOL Time Warner, announced that he would resign from his post in May at the US media giant's annual shareholder meeting.


Although the timing of Mr Case's departure was a surprise, his exit had been increasingly exoected due to growing discontent with him both from within the New York-based media company and shareholders.

Criticism focused on his position as the former head of America Online, which had a big enough share price to acquire Time Warner two years ago but has since been a drag on the business. The AOL business is braced for a 50 per cent drop in advertising and e-commerce revenue in 2003.

Mr Case, who told CEO Dick Parsons of his intentions at the weekend, will remain a director and will continue to co-chair the company's strategy committee.

He said in a statement: "This decision was personally very difficult for me, as I would love to serve as chairman of this great company for years to come, and as an architect of the merger I have felt it was important that I stay the course a chairman and help get things on track."

Shares of AOL Time Warner, which have more than halved in the last year, closed up 3 per cent at $14.88 on Friday.

[visualops]

AOL is really a trip. They've started another disk push, local grocery store is putting them in every bag lol
Try and quit, they give you free month(s).
I told them my modem got fried by lightening and I wasn't buying a new one (true), so they sent me a free one (yes, true!).
I pay $5 a month and have it as a back-up to my cable. The other day I called to cancel, and the rep told me how to get free access my filling out surveys and junk lol (the AOL email acct can get spammed I don't use it lol). You can 'earn' up to about $10 in free time.

[tall_tex]

...closed up 3 per cent at $14.88 on Friday...


Hope this is great news, tried to get my wife to agree to sell 800 shares in the $90 range. She would not allow me to sell her AOL...

I think that alll FReepers should buy and sign up for AOL tomorrow. That would drive up the stock and I could get out with out even loosing even more money.

I sorry about the vanity, but I use a cable modem after moving from AOL. They do suck.

Of course she also covets WCOM, VIGN, 3COM, EGGS, RYO, USTL, CPQ and DELL.

[monkeyshine]

The Time Warner shareholders were idiots for taking Case's deal. Not long after the merger, Case planned to spin-off AOL! Like duh, what was the point of the merger, then?

Anyway, AOL was heavily overvalued, and TW shareholders got screwed. They should've known better than to trade in their hard assets for ether.

[Unknown Freeper]

Haaaahahaha the bigger they are, the harder they fall.

[monkeyshine]

Of course she also covets WCOM, VIGN, 3COM, EGGS, RYO, USTL, CPQ and DELL

You make it easy to honor the commandment "Thou shall not covet thy neighbors possessions"! :-)

[Glenn]

I'm sure he's crushed. He's taken a King's ransom from the joint and can sail off into the sunset.