More resignations at the top of the entertainment giants – this time at Warner Music’s parent company AOL Time Warner. Chairman Steve Case has announced he will step down in May. Case initially won praise for masterminding the merger between America Online and Time Warner, but has come under increasing criticism more recently as AOL Time Warner stock slid some 60%.
Case, who will remain on as a board member, told reporters: "Given that some shareholders continue to focus their disappointment with the company's post-merger performance on me personally, I have concluded that we should take steps now to avoid the possibility of that effort hindering our ability to pull together as a team and focus fully on our businesses."