AOL Announces Key Hires Ahead of Separation from Time Warner

NEW YORK - (BUSINESS WIRE) - AOL announced today it has completed its financial leadership team as it prepares to separate from Time Warner Inc. and become a publicly traded company. Mike Suffredini has joined AOL as Vice President and Treasurer, with Eoin Ryan joining as Vice President of Investor Relations. Don Neff, currently a Senior Vice President of Finance at AOL, will take on the role of Senior Vice President of Internal Audit. AOL also announced that Ned Brody is rejoining the company as Executive Vice President of Paid Services.

"Mike, Eoin and Don all bring great strengths and experience to their roles, and I'm delighted to have them on our team as we move toward becoming an independent, public company," said Artie Minson, AOL's Chief Financial Officer. "I'm also thrilled that Ned is returning to AOL to lead our paid services efforts. Ned has a great history with AOL, and I am confident he will contribute significantly to AOL's future growth."

Suffredini joins AOL from Discovery Communications, Inc., where he was Senior Vice President and Treasurer, responsible for capital markets, treasury operations, financial risk management and insurance. He was previously Vice President, Treasury, at Purdue Pharma, L.P., and before that was Treasurer at Sony Corporation of America. Suffredini has also held treasury positions at PepsiCo, Inc. and Revlon, Inc.

Ryan was Vice President, Investor Relations, at IAC, which operates more than 50 leading and diversified Internet businesses. Ryan guided IAC's Investor Relations department through five high-profile spin-offs and oversaw all financial communications. He was previously Director, Capital Markets Intelligence, at Thomson Financial. Ryan officially joins AOL later this month.

Neff joined AOL in 1996 and most recently served as Senior Vice President, Finance, overseeing AOL's advertising operations. Neff previously headed corporate financial planning and analysis, as well as finance for the company's Digital Services Group. He also spent two years as Vice President of Finance and Controller for AOL's international operations, overseeing joint venture operations in Europe, Latin America and Asia, and prior to that served in the company's accounting policy group. Neff began his career in the audit practice of Ernst and Young.

Brody was founder and CEO of ARPUInc., which focuses on enabling a superior advertising and ecommerce experience for consumers, advertisers and publishers. Prior to founding ARPUInc., he worked at AOL as Senior Vice President of AOL's Premium Services unit, where he was responsible for developing and launching new services and building a new API-driven billing system. Earlier in his career, Brody was CFO of LookSmart.

Brody and Ryan will report to Minson. Neff will report to the Audit Committee of the Board of Directors and administratively to Minson. Suffredini will report to AOL's Senior Vice President and Controller, Doug Horne.

On May 28, 2009, Time Warner Inc. announced that its Board of Directors had authorized management to proceed with plans for the complete legal and structural separation of AOL from Time Warner. Following the proposed transaction, AOL would be an independent, publicly traded company. Time Warner has indicated that it aims to complete the proposed transaction around the end of this year.

About AOL

AOL is a leading global Web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL's business spans online content, products and services that the company offers to consumers, publishers and advertisers. AOL is focused on attracting and engaging consumers and providing valuable online advertising services on both AOL's owned and operated properties and third-party websites. In addition, AOL operates one of the largest Internet subscription access services in the United States, which serves as a valuable distribution channel for AOL's consumer offerings. AOL LLC is a wholly owned subsidiary of Time Warner Inc.

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Pamela Rucker Springs
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