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Ted Turner Stepping Down From Board of Time Warner

Authored by Mark Hefflinger on February 24, 2006 - 11:16am.
Dulles, Va. - Time Warner, the parent company of America Online, said on Friday that Ted Turner will be stepping down from the company's board of directors. Turner, who has often clashed with Time Warner management, gave no specific reason for stepping down. Turner saw the value of his large stock holdings in Time Warner drop sharply in the years following the company's merger with America Online. "It is after much deliberation that I have decided not to stand for reelection at the annual meeting," said Turner. "I have enjoyed working with Dick Parsons as well as the other board members and the management team."
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