Time running out for AOL chief

Robert Pittman's days as head of America Online are numbered following reports that parent company AOL Time Warner is looking for a replacement.

Pittman was parachuted in three months ago from his job as COO of Time Warner to try to boost revenue at the troubled division.

A slump in advertising and a slowing subscriber growth rate had taken its toll and Pittman was brought in to try to reverse AOL's fortunes.

However, well before securing a recovery, bosses at AOL Time Warner have decided to abandon Pittman, according to the Wall Street Journal

It's not known whether the he would be welcomed back to the parent company as its COO should he get the axe.

Executive recruitment firm Spencer Stuart has been drafted in to find a new CEO at AOL.