The Wall Street Journal-20080212-AOL Ad-Strategy Head Leaves at Crucial Time

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AOL Ad-Strategy Head Leaves at Crucial Time

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NEW YORK -- The head of AOL's advertising strategy has left the company, creating a key void at a tumultuous time for the Time Warner Inc. unit.

Dave Morgan, who had been in his post since last fall, left to "pursue start-up opportunities," AOL Chief Operating Officer Ron Grant said in a memo. The company said Mr. Morgan may find online- advertising investment opportunities for AOL.

Mr. Morgan, 44 years old, didn't return a phone call yesterday seeking comment.

The departure comes at a critical time for AOL. Time Warner is in the midst of a restructuring under new Chief Executive Jeff Bewkes, and AOL is a linchpin of the revamping. Time Warner said last week it will separate AOL's Internet-access business, a step that may be a precursor for a sale or spinoff of all of AOL.

AOL has placed renewed emphasis on becoming a hub for ad sales across the Internet. Mr. Morgan, a former newspaper-industry executive and founder of a company that became part of 24/7 Real Media, is well- regarded in the advertising community.

Mr. Morgan came on board last year after AOL acquired Tacoda, an online-advertising company he founded. He and another Tacoda executive, Curtis Viebranz, were named to top posts at AOL. Mr. Viebranz will continue to lead Platform A, an AOL division that is a middleman for Web advertising, according to an AOL spokeswoman.

Mr. Morgan "is an entrepreneur at heart, and so it didn't really surprise me that he wanted to get back in the startup game again, and we'll look forward to working with him in the future," Mr. Grant said in the memo.

Mr. Morgan's departure from AOL was reported earlier by PaidContent.org.

Time Warner shares edged up four cents to $15.63 yesterday in 4 p.m. New York Stock Exchange composite trading