Kelly will report to AOL chief executive Barry Schuler in a move aimed at addressing analysts' concerns about the growth of the division.
Kelly held the post of chief financial officer of the parent company for 10 months. He will be replaced in that role by Wayne Pace, who moves from the Turner Broadcasting division, where he was chief financial officer when it was a listed company.
AOL last had a chief operating officer before the merger between its parent and Time Warner as completed in January. Then the post was held by Robert Pittman who is now co-chief financial officer of the combined company.
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