AOL Inc named Karen Dykstra as chief financial officer, in place of Artie Minson, who was appointed chief operating officer in June.

Dykstra, 53, is a former partner at Plainfield Asset Management LLC.

She will be paid a base salary of $700,000 per year and will have an annual incentive bonus opportunity of 100 percent of her base salary. She will also be eligible for stock option grants, the company said in a regulatory filing.

AOL shares closed at $34.60 on the New York Stock Exchange on Wednesday.

(This version of the story was corrected to say shares closed on NYSE, not Nasdaq. Also corrects share closing price)

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sreejiraj Eluvangal)