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27 May 2009

Former Bebo chief to leave AOL


The former chief executive of social networking site Bebo is set to leave her position at AOL.

Bebo was acquired by AOL, which is part of Time Warner media, for a reported $850 million in May 2008, when Ms Shields was chief executive.

She will now leave her post as president of people networks at AOL in New York to return to London to be closer to family and friends and pursue personal "entrepreneurial interests", according to an internal staff memo at AOL.

The memo, written by AOL chief executive Tim Armstrong, revealed that "Joanna Shields has decided to step down from her role as President of People Networks/EVP of AOL".

In The memo, Mr Armstrong went on to say that although Ms Shields will no longer work for AOL on a day to day basis, she will "continue to serve as an adviser to the company working with acquisitions and new ventures".<br/>

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