Gilt Groupe CEO Brings More Than Two Decades of Media Experience to AOL Board
Appointment Follows Naming of Nine Board Members on October 26
NEW YORK--(Business Wire)--
AOL today named Susan Lyne, Chief Executive Officer of the online luxury
retailer Gilt Groupe, Inc., to serve on its Board of Directors. Lyne and nine
members named on October 26 will join the AOL Board when the separation from
Time Warner is complete.
AOL Chairman and CEO Tim Armstrong said: "Susan`s record of excellence as a
leader in the brand space, the Internet and as a media executive will bring
exceptional value to the work of the AOL Board as we pursue our strategy to
deliver the best content and services to our audiences and advertisers. As a
CEO, Susan is consistently recognized as one of the top executives in business,
and her presence will strengthen our already very strong Board of Directors."
Lyne spent more than two decades as a media executive before joining Gilt Groupe
as CEO in September 2008. Gilt, which debuted in November 2007, has rapidly
established itself as one of the leading online fashion and travel retailers in
the U.S. with more than 1.5 million members.
Before joining Gilt Groupe, Lyne served as President, CEO and director of Martha
Stewart Living Omnimedia, Inc. from November 2004 to 2008. Lyne previously
served in various positions at Walt Disney Company beginning in 1998, rising to
President of ABC Entertainment. Her early career was spent in the magazine
industry, where Lyne was Managing Editor of New Times and The Village Voice and,
in 1987, created and launched Premiere magazine. Lyne also serves as a Director
at the New School in New York. In 2006, The Wall Street Journal named Lyne one
of its "50 Women to Watch."
The directors named to AOL`s Board of Directors previously are: Tim Armstrong
(Chairman), Richard Dalzell, Karen Dykstra, William Hambrecht, Patricia
Mitchell, Michael Powell, Fredric Reynolds, James Stengel and Jim Wiatt.
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.
AOL
Tricia Primrose
703-265-2896
tricia.primrose@corp.aol.com
or
AOL
Alysia Lew
212-652-6376
alysia.lew@corp.aol.com
Copyright Business Wire 2009
