AOL founder leaves Time Warner
A Reuters newswire article, via CNN/Money, reports that:
Steve Case, the founder of AOL, Monday said he has resigned from the board of Time Warner Inc. ending a painful chapter in the history of the world's largest media company.
Case was one of the original architects of the merger of AOL and Time Warner, which helped erase more than $200 billion in shareholder value from the stock.
"On behalf of Time Warner's Board of Directors and senior management team, I thank Steve Case for his years of distinguished service to our company," said Time Warner Chairman and Chief Executive Officer Dick Parsons in a statement. "As Steve is one of our major individual shareholders, we'll look forward to his wise counsel as the company continues to move forward. He will be missed."
In a statement, Case said he was leaving to devote more time to his new company, Revolution.
posted by Fergie @ 10/31/2005 07:40:00 AM
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