AOL Time Warner Names Michael Kelly Chief Operating Officer of America Online, Inc.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and DULLES Va.--(BUSINESS WIRE)--Nov. 1, 2001 Wayne Pace Wayne H. Pace (born 1946 or 1947) is currently the chief financial officer and executive vice president of Time Warner Inc.. He has served as CFO since November of 2001. He attended Austin Peay State University where he graduated with a bachelor's degree in accounting and economics Appointed Executive Vice President and Chief Financial Officer of AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. Time Warner Kelly to Further Advance AOL as Growth Catalyst Across Entire Company Pace, an Eight-Year Veteran of Turner Broadcasting Systems, To Oversee all the Company's Finance Functions AOL Time Warner Inc. (NYSE NYSE See: New York Stock Exchange : AOL) today announced senior executive changes at the corporate level and at America Online See AOL. . The moves are designed to further position America Online as a key driver of growth and convergence across the entire Company. The Company said that it appointed Michael Kelly This could refer to:
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of America Online. Succeeding Mr. Kelly as Executive Vice President and Chief Financial Officer at AOL Time Warner is Wayne Pace, Vice Chairman, Chief Financial Officer and Chief Administration Officer of Turner Broadcasting Systems. In his new position, Mr. Kelly will have two central roles. He will be responsible for managing America Online's day-to-day operations, reporting to America Online Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Barry Schuler. He will also work with AOL Time Warner's other divisions to fully leverage AOL's platforms, drawing upon the close working relationship he has established with the CEOs of the Company's businesses. Ray Oglethorpe will continue as President of America Online. In his new role, Mr. Pace will play a pivotal role in driving value creation across AOL Time Warner. Mr. Pace is an eight-year veteran of Turner Broadcasting, with experience as CFO See Chief Financial Officer. of a public company and a broad background in finance, strategic planning and mergers and acquisitions. He will oversee all of AOL Time Warner's finance functions, including tax, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , mergers and acquisitions, treasury, accounting and capital allocation. In making the announcement, AOL Time Warner Chief Executive Officer Jerry Levin said: "As Chief Operating Officer of America Online, Mike Kelly will be in the perfect position to further drive convergence across AOL Time Warner. He has played an instrumental role in the successful integration of the Company, developing close working relationships with all of our division CEOs. And as the lines between our divisions blur, he is now uniquely positioned to further advance America Online as the central growth engine of all our media and entertainment businesses. AOL is propelling growth throughout the Company by helping to increase magazine subscriptions, create box office hits, break new musical artists and sell new cable services. As we move into the broadband era, AOL will become an even more valuable growth driver and no one knows better how to take advantage of this convergence than Mike Kelly." Mr. Levin continued: "Wayne Pace is a multi-talented executive who will help ensure that we maintain our financial discipline and use our strong balance sheet to its best advantage. He was the CFO of Turner Broadcasting when it was a public company and he has a strong record of achievement, including most recently the successful integration of the WB into the Turner network group. The fact that we were able to promote from within our Company a Chief Financial Officer of Wayne Pace's caliber is another testament to the depth of management talent throughout AOL Time Warner. With this appointment, we continue to put the right people in the right positions to drive value creation across the Company." Mr. Schuler said: "I couldn't think of a better partner than Mike Kelly to help take America Online to the next level. Working together with Ray Oglethorpe and the rest of the management team, we will continue to lead the Internet forward with the roll-out of AOL 7.0, high-speed AOL on Time Warner Cable This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , and strong worldwide subscriber growth. The next phase of the Internet is all about broadband and convergence. Mike's return to our team completes the organization we've put in place to lead the next chapter of Internet growth." Mr. Kelly said: "I couldn't be more excited about the opportunity to return to America Online in an operating role. With broadband access rapidly expanding into the mass market, there has never been a better time to fulfill the promise of the Internet. AOL is continuing to strengthen its industry leadership and has become an important catalyst for the growth of all AOL Time Warner's media properties. I look forward to working with my colleagues at America Online and throughout the other AOL Time Warner businesses to make the most of our enormous opportunities." Mr. Pace said: "AOL Time Warner is uniquely positioned to deliver superior growth and value, and we'll continue to make the best use of our financial strength to achieve this. TBS has been a wonderful place to work, with outstanding people and strong management, and I'm extremely pleased to take on this new assignment, joining the team leading AOL Time Warner forward." About Mike Kelly Mr. Kelly has been Executive Vice President and Chief Financial Officer of AOL Time Warner, since January 2001. Prior to that, he was Senior Vice President and CFO of America Online Inc., since 1998. Before joining America Online, Mr. Kelly held a variety of positions at GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) Corp. during his tenure there, including Executive Vice President for Finance and Planning and Chief Financial Officer, Senior Vice President of Finance, Vice President Controller, and Vice President of Finance and Business Development for the Company's Telecommunications Products & Services Group. From 1987 to 1991, Mr. Kelly was Controller of both Contel Federal Systems and its Applied Systems Division, as well as Vice President and Controller for Contel Corp., which merged with GTE in 1991. Mr. Kelly is a graduate of Gettysburg College and is a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. . About Wayne Pace Wayne H. Pace was named Vice Chairman, Chief Financial Officer and Chief Administrative Officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive of Turner Broadcasting System, Inc. in March 2001, with oversight responsibilities for all financial, corporate and administrative functions. From July 1993 to March 2001, Mr. Pace served as Vice President of Finance and Chief Financial Officer for Turner Broadcasting, responsible for all Company financial activities, investor relations Investor relations The process by which the corporation communicates with its investors. , and mergers and acquisitions -- which included the company's acquisitions of New Line Cinema and Castle Rock Entertainment and its October 1996 merger with Time Warner Inc. Prior to joining Turner Broadcasting in 1993, Mr. Pace served as an audit partner at Price Waterhouse, where he played a key role in advising Turner Broadcasting. He also served clients in media, food manufacturing and finance. His projects for Turner Broadcasting included the acquisitions of the Atlanta Braves and Atlanta Hawks, as well as the Company's purchase of the MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. film library and Hanna Barbera, Inc. Mr. Pace joined Price Waterhouse in 1970, after earning his master's degree in accounting from the J.M. Tull School of Accountancy at the University of Georgia Organization The President of the University of Georgia (as of 2007, Michael F. Adams) is the head administrator and is appointed and overseen by the Georgia Board of Regents. and a bachelor's degree in accounting and economics from Austin Peay State University History The school was founded after the former Southwestern Presbyterian College (now Rhodes College) moved to Memphis in 1925, leaving its former campus in Clarksville unoccupied. . About AOL Time Warner AOL Time Warner (NYSE:AOL) is the world's first Internet-powered media and communications company, whose industry-leading businesses include interactive services, cable systems, publishing, music, TV networks and filmed entertainment. |
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