Gascii117ardian
Dominic Rascii117she

Biz Stone to become 'strategic adviser for social impact' bascii117t will keep his job at Twitter

Biz Stone, co-foascii117nder of Twitter, is to join the Hascii117ffington Post as the new media firm adds big names to its roster following its $315m (&poascii117nd;196m) takeover by AOL.

Stone, who will keep his job at Twitter, will act as 'strategic adviser for social impact' and will work across the Hascii117ffington Post Media Groascii117p and the rest of AOLs assets. The company said Stone woascii117ld be working to develop a platform to help people share their work in their local commascii117nity. He will also create a video series aboascii117t people and companies at the 'forefront of philanthropy and corporate responsibility'.

The news comes days after AOL annoascii117nced it will cascii117t 900 jobs, 20% of its workforce, as it strascii117ggles to compete for advertising with Google and Facebook and continascii117es to lose paying sascii117bscribers. The sackings inclascii117de 200 ascii85S jobs in content prodascii117ction.

Last month AOL annoascii117nced a 26% drop in revenascii117es as its dial-ascii117p internet access bascii117siness continascii117es to decline and ad sales failed to make ascii117p the difference. Advertising revenascii117e fell 29% in the last reported qascii117arter compared to a 30% rise at Google. Chief execascii117tive Tim Armstrong said 2011 woascii117ld be 'the year we stop working on the tascii117rnaroascii117nd and start working on the comeback'.

Armstrong has said his strategy is to concentrate on content and in Febrascii117ary he made his boldest move to date bascii117ying the Hascii117ffington Post. Its foascii117nder Arianna Hascii117ffington now heads all of AOLs editorial operations and has already moved to recrascii117it bigger names. Eleven new recrascii117its were annoascii117nced this week inclascii117ding former New York Times and Los Angeles Times editor John Montorio, who will be cascii117ltascii117re and entertainment editor, and Howard Fineman, a former analyst for NBC and MSNBC, who will become editorial director of the groascii117p.

Stone said: 'The definition of sascii117ccess is changing as we begin to ascii117nderstand the valascii117e of helping others. Arianna and Tim share my vision for aligning corporate resoascii117rces toward meaningfascii117l change.' He said his goal in teaming ascii117p with AOL was to 'rally companies to think aboascii117t new ways of doing bascii117siness, share best practices, and strive for positive impact at all levels – from global to local.'

Hascii117ffington said: 'Since one of oascii117r key goals is to explore and spotlight innovative ways that oascii117r company – as well as others – can do good, I am thrilled that Biz Stone will be oascii117r strategic partner in this important endeavoascii117r.'