AOL's Chief Technology Officer Gounares Steps Down

In a filing with the Securities and Exchange Commission on Monday, AOL disclosed that Alex Gounares - their Chief Technical Officer - is parting ways with the company.

AOL Inc. hired Gounares two years ago back in 2010 whilst employed by Microsoft. As AOL's CTO, he was responsible for looking after the engineering efforts made by the company's technical department.

According to Kelly Mayes, a spokeswoman for AOL, the CTO will leave the company in April, leaving AOL's technical executive, Curtis Brown to play the temporary role of Chief Technical Executive until the board appoints a permanent replacement for Gounares.

Meanwhile, Gounares has stated that he is leaving the company in order to focus on his own start up, but refrained from providing any further details.

His resignation follows last December's departure of former AOL CEO and chairman, Tim Armstrong - the same period when the company's dial-up Internet access unit was blended into the Web services division under the leadership of chief financial officer Arthus Minson.

AOL also confirmed that since Gounares was serving the company during a transition period, he will not be required to repay a signing bonus confirmed Bloomberg.