Richard Bressler Named Chairman and CEO of Time Warner Digital Media

Posted on June 15, 1999

Richard Bressler, executive vice president and chief financial officer of Time Warner Inc., has been named chairman and CEO of Time Warner Digital Media, it was announced by Time Warner Chairman and CEO Gerald M. Levin. Bressler, who will report to Levin, will assume his new duties on July 15, when his successor as CFO will be named.

In this newly created position, Bressler will be responsible for the rollout and management of Time Warner's vertical Internet hubs, the creation of a company-wide e-commerce infrastructure to support them, and the further development and implementation of the company's Internet strategy. Reporting to Bressler will be Michael Pepe, who will become president and chief operating officer of Time Warner Digital Media, and the leaders of the five vertical hubs in their online business capacities.

In making the announcement, Time Warner Chairman and CEO Gerald M. Levin said, "Digital media is Time Warner's single-most important growth area. I am pleased to put an executive of Rich Bressler's caliber in charge of an area that is transforming the company. More than any other Time Warner executive, Bressler is uniquely qualified to lead our company through a revolution that is transforming both our content and distribution businesses. His values, credibility, financial acumen, track record and collegiality, as well as his close relationships throughout Time Warner, make him the right person for this crucial position."

Bressler has served as executive vice president and chief financial officer of Time Warner Inc. since January 1998. He has been responsible for the management of all corporate strategic and financial activities. Previously, he had been senior vice president and chief financial officer since March 1995. Prior to that appointment, Bressler had been senior vice president, finance, of Time Warner since January 1995.

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