AOL Time Warner Inc. named three new execs in its cable division and ousted its president after two months on the job. The company says the new organizational structure, of which the new appointments are part, will hasten its marketing of two-way digital services.

The company appointed John Billock new vice chair and COO, after a stint as president of HBO's U.S. Network Group.

Former Comcast exec Thomas Baxter is president, replacing Thomas Rutledge, who was president for two months.

"That's correct," says spokesman Mike Luftman about the changes. Rutledge and Chair/CEO Glenn Britt discussed how to modify the company structure, and Rutledge decided to pursue a different career path, he adds.

Baxter joined Warner Cable in 1980, before moving to Comcast Cable as president in 1990. Since leaving Comcast in 1998, he has been a partner in an investment firm and CEO of an Internet site.

Landel Hobbs is now CFO after working as VP financial analysis and operations support at AOL Time Warner. He replaced Tommy Harris, who moved to AOLTW's Interactive Video unit as executive VP.

Fred Dressler, TWC senior VP of programming, was promoted to executive VP of programming.

Also in the restructuring, Christopher Bogart, president and CEO of TWC Ventures, will oversee investments, new product development, human resources, IP telephony and Road Runner commercial services development for broadband business ventures.