Google Ad Vet Tim Armstrong Replaces Randy Falco As AOL Chairman And CEO; Grant Out, Too

imageSo much for the Randy Falco three-year plan — AOL (NYSE: TWX) is starting over again with Google (NSDQ: GOOG) ad vet Tim Armstrong as chairman and CEO of the struggling Time Warner unit, replacing Falco. Also out: President and COO Ron Grant. This time around, Time Warner Chairman and CEO Jeff Bewkes is going for digital media experience and loads of it. As Google SVP, Armstrong was a member of Google