CFO of AOL leaving for private equity
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AOL Chief Financial Officer Steve Swad will join a private-equity firm and become the latest senior manager to leave as the Internet company tries to transform itself into an online advertising conduit.
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AOL, the Dulles-based Internet pioneer, yesterday said it was moving its headquarters to New York, transferring the leadership of a company that fueled the growth of the Washington area's technology industry over the past decade.
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If ever there were a better self-propagating group of folks than lawyers I can't figure out who it would be. There have been many millions of dollars invested over the last few years because lawyers have decided to encroach on our little tech world. In the 90's the CIO moved from being a tech to being a finance guy. Tomorrow they might be a finance guy with a law degree
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Former CEO quits on heels of bad quarterly loss.
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Time Warner's new Chief Executive Officer announced the outline for AOL's restructuring, which may include divesting from the AOL access business and Time Warner cable unit, and even New Line Cinema.
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AOL chief technology officer Maureen  Govern, who oversaw the division responsible for accidentally  releasing search data for more than a half a millions Internet  users, has resigned from the company, according to an internal  company memorandum.
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Ted Leonsis, a top leader at AOL for 13 years, will give up his management role but remain vice chairman of the company.
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Four top executives at AOL abruptly announced their intentions to leave the company yesterday, just days before new chief executive Randy Falco is expected to announce a major restructuring at the top.
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Plaintiff lawyer William S. Lerach, who has brought scores of cases on behalf of defrauded shareholders, has told clients and others that he is leaving the California law firm he started three years ago, according to two people briefed on the issue.
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The president of Harvard Management Co., who came to Boston less than two years ago to take over the world's largest university endowment, will leave the job unexpectedly and return to the investment firm where he formerly worked.
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The Securities and Exchange Commission announced Thursday that a top staffer overseeing the &#36;7.6 trillion mutual-fund industry will step down for a private-sector position.
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(InfoWorld) - A CFO who helped Nortel Networks recover from an accounting scandal and years of poor results is leaving the company after about two years on the job. Peter Currie, also an executive vice president, will leave April 30 to take on unspecified new challenges, according to a Nortel statement. The Brampton, Ontario, company is searching for a replacement. After Currie leaves, he will provide advice and assistance to ensure a smooth transition, the company said. Currie has spent much of his career at Nortel, including as CFO from 1994 to 1997. He returned in February 2005 following a scandal in 2004 that led to financial restatements and the firing of CEO Frank Dunn, CFO Douglas Beatty, and Controller Michael Gollogly. Currie replaced another CFO, William Kerr, who had stepped in after Beatty to complete the restatements. Under current President and CEO Mike Zafirovski, who took the helm in October 2005, Nortel has undergone a major restructuring and several management changes. Zafirovski has tried to focus the wide-ranging company, which faces many strong competitors, most notably Cisco Systems. Last year, Nortel formed a partnership with Microsoft to develop products for IP communications. Currie has steered Nortel through difficult financial issues and improved its corporate governance, Zafirovski said in a written statement. To have a complete facelift, Nortel needs more change in the executive ranks under Zafirovski, said Yankee Group analyst Zeus Kerravala, a long-time Nortel watcher. Customers want a clearer picture of where Nortel will focus its investments, especially now that it's working with Microsoft, he said. "There are a lot questions as to what Nortel looks like five years from now, but even next year," Kerravala said.
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Several senior executives at AOL have resigned since the hiring of a new chief executive at the Internet company owned by Time Warner.
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The chief executive of AOL's European operations is leaving the company after less than two months to take another job.
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The top manager of Harvard University's &#36;22.6-billion endowment and several deputies, who earned billions for the school but drew alumni criticism for their compensation, are leaving the school's in-house management company to start a private investment firm. The school announced the departures Tuesday.
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Time Warner is "looking hard" at selling off the internet access portion of its AOL division over the next 12-18 months, Time Warner CEO Richard Parsons said on Tuesday.
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On Wednesday, Time Warner said it will split off AOL's remaining dial-up business.