AOL Loses Three Top Execs
Two other high-level executives--Joe Redling, president of AOL mobile and chairman and chief executive of AOL International, and John Buckley, executive vice president for corporate communications--also will exit.
AOL declined official comment, but is expected to make a formal announcement this week. The exact timing of the departures hasn't yet been determined, according to a source in the company.
The resignations are the latest fallout from the sudden decision last month to oust CEO and chairman Jonathan Miller and replace him with NBC vet Randy Falco.
Within days of Falco's appointment, former Netscape General Manager Jason Calacanis gave notice. Calacanis, who sold Weblogs to AOL for $25 million last year--a move orchestrated by Bankoff--joined venture investment firm Sequoia Capital as an "entrepreneur in residence."
Bankoff, an 11-year AOL veteran who held the title of executive vice president for programming and products, had recently overseen high-profile efforts aimed at luring visitors to the site for its content--which the company made available for free last year as part of its shift to an ad-supported business model. In addition to spearheading the Live 8 broadcast last year, and leading the development of popular celebrity gossip site TMZ.com, Bankoff also oversaw the launch of "Coaches"--a venture promoting self-help books.
AOL's head of advertising, Mike Kelly, is remaining with the company, as is Kevin Conroy, executive vice president of products, marketing and distribution, and Stephen Swad, chief financial officer.