AOL gets a new CEO

Big news today for AOL: the company is getting a new CEO.

Tim Armstrong, formerly Google's (GOOG) head of US sales, will be the new chair and CEO of AOL, a Time Warner (TWX) subsidiary (and the owner of this blog). Current AOL Chairman and CEO Randy Falco and President and COO Ron Grant plan to leave after a transition period. (The press release is after the jump.)