AOLTW hunting for new AOL chief

AOL Time Warner Inc. (AOLTW) confirmed Friday that has hired an executive search firm to help it find a new head for its flagging America Online Inc. (AOL) Internet unit.

Former AOL Chief Executive Officer (CEO) Barry Schuler stepped down last April to head up the company's new Digital Services Development Group, and his role was temporarily assumed by AOLTW Chief Operating Officer Bob Pittman. AOLTW has hired executive search agency Spencer Stuart Management Consultants NV to aid it in its hunt for a new AOL head, AOLTW spokeswoman Tricia Primrose said Friday.

"This should come as no surprise. When we announced that Bob was talking on that role, we said it was an interim post," said Primrose.

AOLTW has engaged in a flurry of executive reshufflings lately, as it works to revamp its struggling Internet unit.

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