Steve Case Resigns!

Major news from AOL…

NEW YORK, Jan 12, 2003 (BUSINESS WIRE) — AOL Time Warner Inc. ( AOL ) today announced that Steve Case has decided to step down as Chairman effective at the Annual Shareholders Meeting in May.

Case notified CEO Dick Parsons and the Board of Directors of his decision over the weekend.

In informing the Board, Case said:

“As you might expect, this decision was personally very difficult for me, as I would love to serve as Chairman of this great company for many years to come, and as an architect of the merger I have felt it was important that I stay the course as Chairman and help get things on track. However, after careful consideration, I believe stepping down is in the best interest of the company, for three reasons.

read the rest (I did not think I could just cut and paste the whole thing legally…)

More Coverage:
NYT – AOL Chairman Quits His Post Amid Criticism
BBC – AOL Time Warner boss to quit
News.com – Case resigns as AOL chairman
News.com – For AOL, it’s Case closed
CNN – AOL Time Warner chairman to step down

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