AOL picks new CFO from Time Warner top brass

AOL has named Time Warner executive Nisha Kumar as its new chief financial officer. Kumar, set to start some time in March, according to AOL spokesman Andrew Weinstein, will replace Stephen Swad, who resigned in mid-February. She will report directly to AOL Chairman and CEO Randy Falco. Falco assumed his position in November 2006, after AOL abruptly announced then-CEO Jonathan Miller's departure. At parent company Time Warner, Kumar has been working with AOL on cross-divisional investments since 2001, according to an AOL statement. Kumar has served as Time Warner's vice president of operations and previously as its vice president of mergers and acquisitions.

Several AOL executives have left the company since the replacement of Jonathan Miller. In January, AOL named a new head of AOL Europe and a new executive vice president of international operations. It also created and filled a new position to head its platforms business unit. In terms of acquisitions, AOL, which moved from a subscription-based to an ad-based revenue model under Miller, has been in talks to buy Third Screen Media, a mobile-advertising company.