After the changes, to take effect at the annual shareholders meeting on May 21, there will be two inside and nine outside directors.
He had been expected to be named chairman of the company at its annual shareholders' meeting July 22.
In theory they could have stayed until the next annual shareholders' meeting.
The vote will occur at the annual shareholders' meeting in May.
"There hadn't been an annual shareholders' meeting for four years," she said.
Top management changed during 1895 after the company's annual shareholder's meeting.
The share price is scheduled to be set Tuesday evening, a day before its annual shareholders' meeting.
Board members are elected every year at the annual shareholders' meeting using a majority vote system.
The decision was approved by the annual shareholders meeting held on 23 May 2002.
Time, which has offered $70 a share, or $14 billion, for Warner, will hold its annual shareholders meeting today.
