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Google exec named AOL chief

Time Warner has hired Google's Tim Armstrong to head up the ailing AOL unit, as the company tries to figure out what to do with the troubled online property.

Time Warner has named Google's advertising sales guru Tim Armstrong as chairman and chief executive of its troubled AOL unit.

Tim Armstrong, new CEO of Time Warner's AOL Google

Current AOL Chairman and CEO Randy Falco and President and Chief Operating Officer Ron Grant will leave AOL after a transition period. Armstrong, a senior vice president at Google in charge of sales, will take over the top post at AOL immediately, the company said in a press release.

Time Warner's management is hoping that Armstrong's magic touch will help revive the ailing AOL.

"Tim is the right executive to move AOL into the next phase of its evolution," Time Warner chairman and CEO Jeff Bewkes said in a statement. "At Google, Armstrong helped build one of the most successful media teams in the history of the Internet--helping to make Google the most popular online search advertising platform in the world for direct and brand marketers."

Bewkes said he will be looking to Armstrong to grow AOL's advertising platform globally and also help Time Warner determine "the optimal structure for AOL." Time Warner has been talking about separating AOL from the rest of the company for more than a year.

Armstrong, who started with Google in 2000, was a member of Google's Operating Committee and served as the president of the Americas Operations. He is best known for developing Google's online advertising business.