Jim Stengel, Procter & Gamble's global marketing officer, announced Tuesday that he will retire. He will be replaced by Marc Pritchard, the company's president for strategy, productivity and growth, effective Aug. 1. P&G spends about $8 billion a year promoting its products around the globe, making it the world's biggest advertiser.
Talks to merge or sell AOL are accelerating, according to a source quoted by Reuters. The main suitors reportedly are Microsoft Corp., which ostensibly would acquire AOL from Time Warner, and Yahoo!, which would merge AOL into its own operations.
The mobile ad network reports it has served nearly 250 million iPhone ads worldwide since the iPhone advertising network debuted last July, and that the top countries for traffic were the U.S., Philippines, the U.K. and France. "We expect that the iPhone and devices like it will be an enormous catalyst for the mobile media business," said AdMob CEO Omar Hamoui.
Microblogging service Twitter confirmed it has purchased search engine firm Summize. The terms of the deal were not disclosed, but the Silicon Alley Insider describes it as a "$15 million range" cash-plus-stock deal.