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AOL is receiving new leadership yet again; only two years after the outgoing executives were selected to turn around the struggling company. Now, for a new guidance a Google executive has been hired as the latest CEO of AOL. AOL’s parent company, Time Warner’s chief executive Jeffrey Bewkes said Google senior vice president Tim Armstrong would take over as chairman and chief executive, replacing Randy Falco. Bewkes said,

Tim is the right executive to move AOL into the next phase of its evolution. At Google, Armstrong helped build one of the most successful media teams in the history of the internet, helping to make Google the most popular online search advertising platform in the world for direct and brand marketers.

Ron Grant, AOL’s president and chief operating officer, will leave with Falco in a few weeks, who took the job in November 2006.

AOL has liable declining advertising profits for its declining fortunes. Its yearly income cut down 20 per cent in 2008, to $4.2 billion. The band is at the heart of a surrounding of layoffs in which it waits for to shed about 10 per cent of its employees, or 700 workers.

It is expecting that, time Warner’s struggling Internet unit will be headed by Tim Armstrong, who worked at Google for nearly nine years. Roger Kay, president of Endpoint Technologies Associates said,

If there’s any company that understands the market AOL should be in, it’s Google.

Others, Rob Enderle, a tech industry forecaster said,

When you get somebody from Google like this, it usually means that you’re paying them a ton of money and you’re hoping for a miracle.