The world’s largest media group AOL Time Warner is continuing the senior management revamp within its AOL unit – this time with the surprise transfer of greater management responsibility to its lossmaking European business.
This will no longer be controlled on a day-to-day basis from New York, the reins passing to AOL Europe’s chief financial officer Philip Rowley, now elevated to the role of president and chief operating officer.
London-based Rowley will oversee all corporate and operational functions of AOL’s UK, German and French businesses – none of which is market leader in those nations. Although the UK operation is forecast to move into profit within the next twelve months, AOL is being whupped in France and Germany, respectively by Wanadoo (a unit of France Telecom) and Deutsche Telekom’s T-Online.
Rowley, who joined AOL last year from UK retail giant Kingfisher Group, is charged with halving the group’s European losses to $300 million (€305.48m; £193.06m) this year while upping revenues from $800m to $1 billion. He will report directly to Michael Lynton, president of AOL Time Warner International.
Data sourced from: BBC Online Business News (UK); additional content by WARC staff