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Case Stepping Down From Time Warner Board

Oct 31, 2005  •  Post A Comment

America Online co-founder Steve Case said Monday he is stepping down from the board of Time Warner, capping a five-year odyssey marked by shareholder unrest over Time Warner’s ill-fated merger with AOL and the subsequent stock price decline.

Mr. Case was the last of a number of senior executives seen by many investors as responsible for the 2000 merger, executed at the height of the Internet boom. Since then the company has been rocked by an accounting scandal at AOL, and Mr. Case has slowly reduced his role in the company, earlier stepping down as chairman.

Despite the opposition to his presence on the board, Mr. Case said the decision to step down now was driven more by his desire to focus on his newly launched company Revolution, which invests in wellness content, health care and resorts.