AOL hires Google's Tim Armstrong as new boss

Tim Armstrong is leaving Google for AOL

AOL has hired Tim Armstrong, Google's president of the Americas operations, as its new chief executive.

Armstrong is widely credited with driving Google's advertising revenue model, and AOL is hoping that he can help the struggling internet services company switch to being fully supported by advertising.

"Tim is the right executive to move AOL into the next phase of its evolution, " said AOL Time Warner president Jeff Bewkes.

"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. He is an advertising pioneer with a stellar reputation and proven track record."

Current AOL chief executive Randy Falco and chief operating officer Ron Grant will leave the company as soon as the handover can be completed.

"Randy led AOL in its transition from a subscription business to an audience business," said Bewkes.

"Under Randy and Ron, AOL's programming sites exhibited year-over-year growth in unique visitors for 23 consecutive months, with many of its sites now in the top five of their categories."