AOL Time Warner’s new chief executive Richard Parsons has juggled the company’s corporate reporting structure, streamlining management and creating a new office of the CEO.
The changes, announced in an internal memo Friday, consolidate Parson’s control over several key functions at the parent company. Exec, who took the reins of the giant media conglom from Gerald Levin May 16, has already reshuffled the ranks at the troubled America Online unit.
Exec VP of global and strategic policy Robert Kimmitt and chief technology officer William Raduchel, who formerly reported to AOL TW chairman Steve Case, will now report directly to Parsons.
In addition, former PR guru Kenneth Lehrer has lost direct oversight of corporate communications and investor relations. Corporate communications topper Edward Adler will now report directly to Parsons, and head of investor relations John Martin will report to chief financial officer Wayne Pace.
Lehrer, who is close to AOL TW chief operating officer Robert Pittman, will join a new office of the CEO, which also includes Parsons’ chief of staff Paul Washington and top Case adviser Don Davis.
“Over the past six months, I have come to rely on Ken’s good advice and council,” Parsons said in the memo, adding that he expects that relationship to continue within the new structure.
Lehrer will work closely with Pittman, who was dispatched to Dulles, Va., in April to revitalize America Online. AOL has been hit hard by the sluggish advertising market and slower subscriber growth. AOL’s ills have weighed heavily on AOL TW’s stock price, and Parsons has made fixing the unit his top priority.