AOL Time Warner shareholders call to oust Case

LONDON - AOL Time Warner is facing increasing pressure from shareholders to remove outgoing chairman Steve Case and other America Online executives from the company's board.

Just two weeks ago, the company confirmed that Case, one of the founders of AOL, was to bow to shareholder pressure and relinquish his chairmanship in May. He is being replaced by Richard Parsons who adds the post of chairman to his existing role of chief executive.

Today, it has emerged that the company is now being leaned on to vote Case and two other former America Online executives, Kenneth Novack and Miles Gilburne, from the board altogether at its annual meeting in May.

Since AOL and Time Warner merged in January 2000, the company has fallen 70% in value, shaking the confidence of investors who have become increasingly wary of the new-media side of the business.

Case is still chairman of the board's strategic committee and has made clear that AOL remains his first priority, which has not helped shore up confidence in him among investors.

Turner Broadcasting and AOL are the only divisions of the media giant with representatives on the AOL Time Warner board.

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