Sunday, 28 August 2016
Last updated 1 day ago
Sep 20 2012 | 10:35am ET
A former hedge fund executive has been named to one of the top jobs at Internet company AOL Inc.
Karen Dykstra becomes the troubled company's CFO, taking over from Artie Minson, who was promoted to chief operating officer in June.
Dykstra served as a partner at Plainfield Asset Management from 2006 through 2010. At the hedge fund, she served as COO and CFO for Plainfield Direct, its direct-lending fund. She also formerly served as CFO of Automatic Data Processing.
Dykstra has been a member of AOL's board since 2009, a role she will relinquish.
"As AOL drives growth and profitability across our businesses, Karen's experience will be critical to our success," CEO Tim Armstrong said.
Plainfield began winding down last year. The distressed-debt specialist had been hit hit with several whistleblower complaints accusing it of overvaluing assets and a pair of predatory lending probes. The Securities and Exchange Commission ended its probe earlier this year without bringing charges.