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Tim Armstrong, Chairman and CEO of AOL. (AP Photo/Mark Lennihan)

Feb. 11 (Bloomberg) — AOL Inc. Chief Executive Officer Tim Armstrong is on a long list of corporate bosses who put their trust in an apology to contain fallout from an embarrassing public statement.

Armstrong said he was sorry and backtracked on a 401(k) policy change days after he cited the cost of “distressed babies” on the AOL health-care plan as a reason the company needed to save some money. That came six months after he expressed his regrets for firing a creative director on a conference call as thousands of employees listened.

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