ABN AMRO analyst to take on top AOL investor relations role

NEW YORK - AOL Time Warner has named ABN AMRO media analyst John Martin as its vice-president of investor relations to replace Richard Hanlon, who is to retire at the end of March.

Martin was vice-president of Time Warner's investor relations when it was going through its merger with America Online, while Hanlon held the same role at AOL before being appointed to head investor relations for the merged company.



Martin will take over the investor relations role just prior to CEO Gerald Levin's retirement in April. Levin will be replaced by Richard Parsons, currently co-chief operating officer.



Last year, AOL Time Warner disappointed the market by failing to meet the optimistic forecasts it had set for itself when it completed the merger. After the advertising downturn and the effects of September 11, the company reduced forecasts. Last week, it posted a full-year loss of £3.5bn, up from £3.1bn for the previous year.



Martin joined ABN AMRO as a director of its equity research group, part of its US media research team, in August 2000. He was director of investor relations at Time Warner from November 1998.



Martin will report to executive vice-president Kenneth Lerer.



Parsons said: "John has a uniquely strong background to lead our investor relations programme. He has in-depth knowledge of AOL Time Warner and extensive relationships within the company, as well as experience as a securities analyst and a strong financial background. This experience will enable him to work closely with our senior management team in support of our business and financial strategies. We're very pleased to welcome John back to our company."



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