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Pittman, who was also AOL Time Warner's joint chief operating officer with Richard Parsons, was originally at AOL before the two companies merged in 2000.

His departure effectively signals the end of the idea of successfully merging the two companies. The advertising downturn stymied the growth potential of the online side of the company and any chance of successfully merging it with old-media Time Warner.

He only took up the job, which was seen as a poisoned chalice by many, in April. He was handed the role in an attempt to halt falling revenues at the division.

Pittman's resignation comes amid a raft of changes at senior management level, which sees the running of the group firmly in the hands of former Time Warner executives.

AOL founder Steve Case is the only remaining AOL executive in a senior management position.

Pittman said: "I've decided that after a new CEO is in place at AOL, I won't return to AOL Time Warner as chief operating officer. Having worked so hard to built the AOL service and brand, and after then going through the merger and the last 18 months, it's time to take a break."

The reshuffle also sees the creation of two new divisions.

The Media & Communications Group, which will include AOL, Time Inc, Time Warner Cable, AOL Time Warner Book Group and Interactive Video unit, is to be headed up by former Time Inc chairman and chief executive Don Logan, who becomes chairman of the unit.

Logan is to be replaced at Time Inc, which owns UK publisher IPC Media, by Ann Moore, who was executive vice-president of the publishing division.

Jeff Bewkes, former chairman and CEO of HBO, has been appointed chairman of the other division, called Entertainment & Networks Group. The division includes HBO, New Line Cinema, The WB, Turner Networks, Warner Bros and Warner Music.

Bewkes will be replaced at HBO by Chris Albrecht, formerly president of HBO Original Programming.

Logan and Bewkes will report directly to Parsons.

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