In an internal memo to staff, AOL global chief executive Tim Armstrong said "at her core" Shields is "a start-up executive" and although she will not work for AOL on a daily basis, she will "continue to serve as an adviser to the company working with acquisitions and new ventures".
Armstrong said Shields moved to New York to help AOL "unlock the value" of its social assets and re-establish AOL as a "leader and innovator" in the area of social networking and communications - two areas the company pioneered.
Armstrong commended Shields for the innovations in AOL's social networking tools AIM and ICQ under her watch and the launch of Socialthing - which provides social media on various AOL platforms - plus continued upgrades to Bebo.
In an additional memo, Shields said AOL is on the verge of revealing the "phenomenal products" that were devised during her time at the Time Warner company.
As chief executive of Bebo, Shields secured the $850m sale of Bebo to AOL in March 2008, a price that is now widely believed to have been inflated and is understood to have caused tension within the company.
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