(22 December 2005 11:45 am)

MUMBAI: Jeff Bewkes has been named president and chief operating officer of Time Warner Inc.

The announcement was made by Time Warner chairman and CEO Dick Parsons.

Time Warner's Media & Communications Group chairman Don Logan plans to retire at the end of the current year and become the non-executive chairman of Time Warner Cable's board of directors.

Parsons said, "Since I asked Don and Jeff to help me run the company in the summer of 2002, we have overcome a long list of challenges and put this company back on track. We've worked hard to make Time Warner the best managed and most valuable portfolio of world-class media and entertainment assets."

"Now, after having accomplished all that together, we're smoothly transitioning our senior management team with Don's well-earned retirement and Jeff's well-deserved promotion," he added.

Bewkes said, "I greatly appreciate the confidence that both Dick and the board of directors have shown in me with this appointment. Most crucial to our future success will be how well we're able to take advantage of the emerging technological opportunities. I believe no company is better positioned to succeed in the digital arena than Time Warner. There's never been a more exciting time to be in this business."

Parsons added, " 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 Cable has delivered financial growth, launched such successful new products as Digital Phone and positioned itself for the Adelphia transaction. Time Inc. has continued to introduce new titles and make strategic international acquisitions. "