Case resigns from AOL Time Warner

Time Warners' chairman Steve Case has announced that he is to step down, though he will remain a director.

He said that he was worried that speculation about his future was distracting the company. He has been continually criticised recently about his decision to bring about the merger of Time Warner with his company AOL.

He said, on his resignation, that things had not gone as he had imagined when he brought about the merger.