AOL Time Warner Cuts Colin Powell & 5 Others From Board
As a consolidation measure, the combined AOL Time Warner company has cut six members from its board of directors including U.S. Secretary of State designate Colin Powell. Former General Powell has received some bad press in regards to his involvement with AOL and how it would affect his work as Secretary of State. His removal from the board can be seen as a move to better insure Powell's approval into president-elect George W. Bush's cabinet. The new company's board consists of 16 members. Three members were cut from each of the two company's boards. AOL's board members that were let go were Powell, former U.S. Secretary of State Alexander Haig and Pearson Plc CEO Marjorie Scardino. The three members removed from Time Warner's board were former chairman and CEO Carter Bascot, former U.S. Senator John Danforth and United Airlines chairman Gerald Greenwald. The board is now comprised of six AOL Time Warner executives and 10 outside directors. The in-house members are chairman Steve Case, CEO Gerald Levin, co-chief operating officers Richard Parsons and Bob Pittman, vice chairman Kenneth Novack and vice chairman and senior advisor Ted Turner. Outside leaders in the mega-firm are Daniel Akerson, CEO and chairman of XO Communications; Stephen Bollenbach, president and CEO of Hilton Hotels Corp.; Frank Caufield, a partner in Kleiner Perkins Caufeld & Byers; Miles Gilburne, a partner in CGLS Fund; Carla Hills, CEO of Hills & Co.; Reuben Mark, chairman and CEO of Colgate-Palmolive Co.; Michael Miles, former chairman and CEO of Philip Morris Companies; Franklin Raines, chairman and CEO of Fannie Mae; and Francis Vincent Jr., chairman of Vincent Enterprises.