Time Warner names new president

Time Warner said Wednesday it has named former HBO chief Jeffrey Bewkes its new president and chief operating officer.

Jeffrey Bewkes

Since July 2002, Bewkes has served as chairman of Time Warner's Entertainment & Networks Group, which oversees Warner Bros., New Line Cinema, HBO and Cinemax, as well as television networks CNN, TNT, TBS, Cartoon Network and The WB.

Before holding that post, Bewkes spent seven years as HBO's chief executive. He came to the cable network in 1991 as its president and chief operating officer, and later became its chief financial officer.

At the same time, the company announced that Don Logan, chairman of Time Warner's Media & Communications Group, which oversees America Online and the company's publishing and cable ventures, will retire at the end of the year.

After 35 years with the media conglomerate, Logan will take on the position of nonexecutive chairman of Time Warner Cable's board of directors.

"Don deserves a great deal of credit for stabilizing AOL and starting its transition to an advertising-based business model--capped by this week's strategic alliance with Google," Time Warner CEO Richard Parsons said in a statement.

Google went public this week with its plans to invest $1 billion for a 5 percent stake in AOL through a global advertising partnership.