Four senior members of AOL Chairman and CEO Tim Armstrong’s executive team have departed the company in the past month, The New York Post reports.
“The loss of the four longtime Armstrong lieutenants is leading to speculation that Verizon is turning up the pressure on Armstrong to make its basket of recent entertainment acquisitions — Jeffrey Katzenberg’s Awesomeness TV and Complex, a hip men’s online destination — work now that AT&T is in the throes of a deal to acquire Time Warner,” the report notes.
“Among those exiting in recent weeks are Armstrong’s best friend, Jim Norton, global head of media sales, who left to become Condé Nast’s chief business officer,” the story reports. “Armstrong’s college roommate, Luke Beatty, president of media brands, also left a few weeks ago. Beatty sold his company, Gravity, to Armstrong in January 2014.”
Also exiting are Marta Martinez, AOL’s senior VP of advertising, and Jimmy Maymann, head of AOL content and consumer brands.
The company is bracing for a round of job cuts, as we reported yesterday.