AOL president resigns

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William Razzouk resigned as president-chief operating officer of America Online, the company announced late on Monday. AOL said Mr. Razzouk had decided he did not want to move his family from Memphis to AOL's offices in Vienna, Va. Mr. Razzouk joined AOL from Federal Express Corp. only a few months ago.

AOL Chairman-CEO Steve Case said he would assume Mr. Razzouk's duties immediately.

The departure comes at a critical time for AOL, which has been buffetted in recent months by falling stock prices, continued membership turmoil and a Federal Trade Commission inquiry into its pricing. Mr. Case said in a release that he realized he needed to take "a more active role in making day-to-day business decisions."

The service is expected to unveil its strategy for taking advertising this week.

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