The media mogul who was instrumental in combining AOL and Time Warner, Robert W. Pittman, has resigned from AOL Time Warner Inc.
Pittman has decided to step down as the company’s chief operating officer and a director of the board, AOL Time Warner disclosed Thursday. He had managed America Online, the nation’s largest ISP, whose market value has crumbled in the face of weak advertising and slow broadband adoption.
With the announcement of Pittman’s resignation, AOL Time Warner CEO Richard D. Parsons announced a new operating structure and senior leadership appointments. Don Logan, former chairman and CEO of Time Inc., will head up the new Media & Communications Group as chairman. The group will include America Online, Time Inc. and Time Warner Cable as well as the AOL Time Warner Book Group and Interactive Video unit.
Jeff Bewkes, former chairman and CEO of HBO, will run the new Entertainment & Networks Group, comprising HBO, New Line Cinema, The WB, Turner Networks, Warner Bros. and Warner Music.
Both men will report directly to Parsons.
