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Ted Turner resigning from AOL

Michael Stanclift Neowin @vmstan · Jan 29, 2003 17:54 EST with 1 comment

Thanks to fdiaz2day who IM'd me with the heads up.

Abandoning vice chairman position to pursue other interests

CNN founder Ted Turner is stepping down as vice chairman of AOL Time Warner, the parent company of CNN and CNN/Money, in order to spend more time on philanthropic endeavors, AOL's chairman announced Wednesday.

Turner's resignation as vice chairman is effective in May, but he will remain on the company's board of directors.

"Last night, Ted Turner informed me of his decision to step down from his duties as the company's vice chairman at this May's annual shareholders meeting," said AOL chief executive Richard Parsons, on a conference call with analysts.

"It will allow him to devote more time to his philanthropic and other interests," he said.

In 1997, Turner pledged $1 billion to a foundation to support the United Nations. He is an outspoken environmentalist and has become the largest private landowner in the United States.

News source: MSNBC | CNN Money