Nationwide — Richard Parsons, the previous CEO of Time Warner and Chairman of Citigroup, has died on the age of 76 at his Manhattan dwelling, following a protracted battle with a number of myeloma. Parsons was a extremely revered African American enterprise chief identified for guiding main corporations by turbulent occasions.
“Dick was the chief to whom different leaders turned for recommendation and a gradual, certain set of arms throughout their most consequential moments,” Lazard stated in an announcement, in keeping with CBS Information.
All through his profession, Parsons held important roles. At Time Warner, he stabilized the corporate and restored its repute after its troubled merger with AOL. As Citigroup’s chairman in 2009, he helped the financial institution get well from the subprime mortgage disaster, steering it again to profitability.
Parsons, a Brooklyn native, started faculty at 16 and later earned a regulation diploma. He performed basketball on the College of Hawaii and labored for political leaders like Nelson Rockefeller and Gerald Ford.
In 2014, Parsons briefly served as interim CEO of the Los Angeles Clippers. He additionally held board positions at Estée Lauder, the Smithsonian, and the Apollo Theater. Past his company achievements, Parsons, who’s a passionate jazz fanatic, co-owned a Harlem jazz membership and supported cultural establishments all through his life.
