The Boston Billionaire
Wall Street welcomed news last week that Tim Armstrong '93 will head Time Warner Inc.'s AOL subsidiary. Read the press release.
Observers said Armstrong, a Connecticut College Trustee who had been a senior vice president at Google, brings the leadership that AOL needs in order to redefine its purpose and the credibility that Time Warner needs in order to spin off the troubled subsidiary.
The New York Times, playing off a comment that Armstrong was the first Googler to wear a tie, headlined its story, "This Suit Just Might Save AOL." Forbes chimed in with "You've Got Tim!" and started its story by saying, "Even in a tough market, the right guy can find a job."
While praising Armstrong, analysts said he has a lot of work ahead of him. Some of the commentary:
"[Analyst Richard] Greenfield said that before Armstrong's hiring by Time Warner, he doubted the prospects for a spin-off of AOL because of investors' lack of confidence in its leadership. 'With Armstrong running AOL, that view no longer holds.'"
"Tim built a great team at Google and really worked hard to find the wins for publishers, advertisers, and agencies. He has a great sense of generosity and built his business by helping others build their businesses. He has both the intellect and the empathy to create a new model. ... If anybody is up to the challenges at AOL, it's Tim Armstrong."
Managing partner at Publicis Groupe, quoted at Forbes
"Mr. Armstrong's star has been rising for years in media and technology circles. His name has been tossed around as a possible CEO contender at multiple companies, including Yahoo."
The Wall Street Journal