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America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)According to unnamed sources cited in news reports, three top executives at AOL, a subsidiary of Time Warner, Inc. (NYSE: TWX), are leaving the company.
The executives heading for the exits include Jim Bankoff, who ran consumer and publishing divisions, John Buckley, head of corporate communications, and Joe Redling, who ran international operations, according to the Associated Press. AOL has not made an official comment on the reports.
These departures closely follow AOL getting both a new chief executive and a new president. On Nov. 15, Randy Falco joined AOL as CEO. He came from NBC Universal Television Group, where he was president and COO. And on Nov. 21, Ron Grant, formerly a senior vice president of operations at Time Warner, joined AOL as president and CEO.
According to reports, the executive departures were voluntary. Provisions in their contracts allow them to leave following management changes at the top.
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