Ted Turner To Step Down As Vice Chairman Of AOL Time Warner
The exodus from AOL Time Warner continues with the announcement that Ted Turner has decided to step down as vice chairman of AOL Time Warner. This follows the highly publicized departure of chairman Steve Case, who earlier this month announced his departure from the company amid criticism from shareholders. AOL's stock has fallen 70% since it acquired Time Warner in 2001. Turner was rumored as a possible replacement for Case, but the newly-created position of chairman and chief executive officer went to CEO Dick Parsons.