AOL boss refuses bonus

Internet giant AOL's chief executive has turned down a bonus of at least $1.5m (€1.07m) for 2009, a company report revealed.

In a filing with the US Securities and Exchange Commission, AOL said Tim Armstrong was entitled to the bonus but the company’s compensation committee accepted his request to forego it last week.

New York-based AOL, which separated from media conglomerate Time Warner in December and began trading once again as a stand-alone company, is due to report its fourth-quarter results today.