AOL CEO, Susan Lyne, on reinventing AOL and her career

(CBS News) Susan Lyne knows a lot about reinvention. As the chief executive officer at AOL Brand Group, she is helping the internet pioneer reinvent itself as a media company. She's held leadership positions everywhere from Martha Stewart Living to Disney.

During an interview with "CBS This Morning," Lyne told the co-hosts that she doesn't think a brand is ever really reinvented, but rather, sometimes, you give "new shape" to it.

"For a company like AOL, it's a very strong brand, it's known to most people around the world. It was the company that introduced all of us to the internet," she said. "So the challenge is how we get the company growing again at a significant pace, and that's what Tim Armstrong has really been able to do over the past couple of years, which is really to ignite growth in an old brand."

She also explained that her company is not just the dial-up internet company that many people think of with AOL. Now, it's more about all the different products involved.

"It's home to a lot of beloved brands. The Huffington Post, MapQuest, Moviefone, StyleList, TechCrunch, a couple dozen brands and it's become a real video bin," she explained. "It's number in video ad serving, number two only to YouTube in video views, so lots of really interesting work in that area too."

Lyne also talked candidly with the co-hosts about not just reinventing companies, but being able to change herself as well. She explained that she went through a process after being laid off from ABC.

"I had been at the company for about 10 years, but ... like many people who get into that job, the head of entertainment for a network, it's not the most secure position, and I knew that going in, but still I was completely stunned when I was let go," she said. "I did have to take, you know, days to process this, but at a certain point, I thought, 'Ok, what does this mean I can do?'"

She said that the lesson she learned from being let go was that you have to think about "what the opportunity is." The CEO explained that for her, it was being able to figure out exactly what she wanted her next step to be.

"I had always gone from job, to job, to job because I was offered a job," she said. "I had never had a chance to step back and say 'What do I want to do now' and that was a huge plus."

Lyne said that at the time, she went from a large office at a big company, to a small cubicle at a start up with around 50 people called Gilt Group.

"I loved it, it was really exciting and I think that's really the message, is that you just have to be willing to embrace change," she said. "Whether that's change in the world around us, or change in your situation."

For the full interview with Susan Lyne, watch the video in the player above.