Former FCC Chairman Powell to Join AOL Board

Federal Communications Commission Chairman Michael Powell and investment banker William Hambrecht are joining the board of America Online as it spins off from Time Warner. AOL has been struggling as advertising revenue has declined and as subscriptions to its dial-up Internet service have dwindled. The nine directors named Monday include current AOL Chief Executive Tim Armstrong, who will be chairman, Frederic Reynolds, the recently retired chief financial officer of CBS, Richard Dalzell, a former Amazon executive, Karen Dykstra, a partner at Plainfield Asset Management; Patricia Mitchell, president and CEO of the Paley Center for Media, a nonprofit cultural institution; management consultant James Stengel; and consultant James Wiatt, a former CEO of the William Morris Agency.