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NEW YORK?America Online, Inc. (NYSE: AOL) and Time Warner Inc. (NYSE: TWX) announced today the management team and structure for AOL Time Warner's finance organization, which will take effect upon completion of the merger of the two companies.
In making the announcement, J. Michael Kelly, currently AOL's chief financial officer and senior vice president, who will become chief financial officer and executive vice president of AOL Time Warner, said: ?We have assembled an extraordinarily talented group of finance executives from throughout AOL and Time Warner, drawing on the strengths of both companies. This is the first step in building the foundation for a world-class finance function. We have the right team, with the right combination of skills and experience, to support the financial and strategic goals of the company and to help us realize the tremendous potential of our merger.?
Gerald M. Levin, chairman and CEO of Time Warner, who will become CEO of AOL Time Warner, said: Today's executive appointments will provide AOL Time Warner with an experienced, top-flight, hard-driving financial organization which can establish the operating metrics to support the growth opportunities that will help drive our continually accelerating performance.
The following executives were named to key finance positions at AOL Time Warner:
John LaBarca, senior vice president, financial operations. LaBarca's responsibilities will include merger integration tracking, internal audit and purchasing. He is currently senior vice president, financial operations at Time Warner Inc. He joined Time Warner in 1993.
Frederick Yeager, senior vice president, finance. Yeager's responsibilities will include advising corporate senior management on key financial issues and representing the CFO on other matters. Yeager is currently vice president, finance and development at Time Warner Inc. He joined Time Warner in 1995.
James Barge, vice president, controller. Barge will be responsible for corporate-wide reporting of internal and external financial results, accounting policy and procedures, corporate accounting as well as all SEC-related issues. He is currently vice president and controller at Time Warner Inc. He joined Time Warner in 1995.
Warren Christie, vice president, tax. Christie's responsibilities will include tax planning and tax compliance. He is currently vice president, tax at Time Warner Inc. He joined Time Warner in 1982.
Landel Hobbs, vice president, financial analysis and operations support. Hobbs's responsibilities will include budgets and financial and operational analysis of the results of the company's business units. He is currently senior vice president, controller and chief accounting officer for Turner Broadcasting System, Inc. He joined Turner Broadcasting in 1993.
Melinda Mount, vice president, finance and acquisitions. Mount's responsibilities will include financial strategies, business planning, mergers and acquisitions, and competitive analysis. She is currently vice president, corporate strategy and development at Time Warner Inc. She joined Time Warner in 1995.
Raymond Murphy, vice president, treasurer. Murphy's responsibilities will include worldwide treasury activities, including capital markets, cash management, project finance, real estate and risk management. He is currently senior vice president and treasurer at America Online, Inc. He joined AOL in 1999.
Founded in 1985, America Online, Inc. (NYSE: AOL) is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services.
Time Warner Inc. (NYSE: TWX, is the world's leading media company. Its businesses include cable networks, publishing, music, filmed entertainment, cable and digital media.
DULLES, VA and NEW YORK, NY -- America Online, Inc. [NYSE:AOL] and Time Warner Inc. [NYSE: TWX] released the following joint statement in response to today's decision by the European Commission to approve their merger:
We are very pleased with today's approval of our merger by the European Commission, another important step forward in the approval process.
In addition to today's action by the EC, AOL and Time Warner received shareholder approval of their merger on June 23 and by last month had the necessary Time Warner Cable franchise approvals.
The companies' discussions with U.S. regulators are proceeding well and the companies are confident they will conclude successfully. AOL and Time Warner said they are on track to close their merger this fall
3. DULLES, VA and NEW YORK, NY -- America Online, Inc. (NYSE:AOL) and Time Warner Inc. (NYSE:TWX) today announced that their shareholders have voted to approve the proposed merger of the two companies at special shareholders meetings held respectively in Tysons Corner, Virginia,