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Time Warner has named Google's advertising sales guru Tim Armstrong chairman and CEO of its ailing AOL unit.
According to the company, current AOL chair and CEO Randy Falco, and president and COO Ron Grant will leave AOL after a transition period. Armstrong, a sr. vp at Google in charge of sales, will take over immediately.
TW is hoping that Armstrong's magic touch will help revive the one-time online giant.
"Tim is the right executive to move AOL into the next phase of its evolution," Time Warner chairman and CEO Jeff Bewkes said. "At Google, Armstrong helped build one of the most successful media teams in the history of the Internet -- helping to make Google the most popular online search advertising platform in the world for direct and brand marketers."
