America Online Inc co-founder James Kimsey has left his seat on the company board, effective immediately. Kimsey co-founded the online service in 1985 with Marc Serris and current chief executive Steve Case and had previously served as AOL’s chairman, CEO, and president. He will Kimsey will hold on to his title of chairman emeritus and will become the chairman of the newly established AOL Foundation. The Foundation was created to offer money and services to disadvantaged children and communities. Its first initiative will offer grants for teachers, administrators, and parents who develop innovative ways to leverage the internet to enhance students’ educational experience. Daniel Akerson, chairman and CEO of Nextel Communications Inc, has been named to fill Kimsey’s place on the board.
