AOL Names Former Hedge Fund Exec as New CFO

by Christopher Freeburn | September 20, 2012 11:30 am

AOL Names Former Hedge Fund Exec as New CFO

AOL (NYSE:AOL[1]) has found a new chief financial officer[2] to replace Artie Minson, who became the Internet pioneer’s chief operating officer in June.

Karen Dykstra has been tapped as AOL’s new financial chief. She was a partner at Plainfield Asset Management, a hedge fund from 2006 to 2010, Reuters noted. Dykstra has resigned from AOL’s board of directors to assume the CFO position.

Regulatory filings indicate that Dykstra will received an annual salary of $700,000. She may also receive stock options and a yearly incentive bonus potentially equal to her entire salary.

With Dykstra leaving the board, AOL elected Hugh F. Johnston as a new director. Johnston is the CFO at Pepsico (NYSE:PEP[3]).

AOL continues its search to fill two seats on its board, according to company officials. It would prefer current CEOs with mobile device expertise.

Shares of AOL slipped fractionally in Thursday morning trading.

Endnotes:
  1. AOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AOL
  2. found a new chief financial officer: http://in.reuters.com/article/2012/09/19/us-aol-cfo-idINBRE88I1C920120919
  3. PEP: http://studio-5.financialcontent.com/investplace/quote?Symbol=PEP

Source URL: http://investorplace.com/2012/09/aol-names-former-hedge-fund-exec-as-new-cfo/
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