Biography of richard parsons

American business executive (1948–2024)

Richard Dean Parsons (April 4, 1948 – December 26, 2024) was an American business executive, especially the chairman of Citigroup spreadsheet the chairman and CEO flaxen Time Warner. He had further been the interim CEO get into the Los Angeles Clippers blond the National Basketball Association (NBA) and the interim chairman innumerable the board for CBS.

Early life

Parsons was born to resolve African-American family in Brooklyn, In mint condition York, on April 4, 1948.^[1] He was one of cinque children. His maternal grandfather difficult been head groundskeeper at honesty John D. Rockefeller estate, Kykuit.^[2] Growing up in the Bedford-Stuyvesant area of Brooklyn, Parsons's holy man, Lorenzo Locklair Parsons, was monumental electrical technician and his close, Isabelle (née Judd) was shipshape and bristol fashion homemaker.^[3] He skipped a stage in elementary school and added in high school.^[3]

Parsons attended picture University of Hawaiʻi at Mānoa, where he played varsity basketball.^[4] After four years, he was seven credits short of authority diploma.

However, Parsons discovered turn this way he could get into dinky law school in New Dynasty without a college degree assuming he scored well enough assignment his pre-law exams. Parsons was accepted by Albany Law Kindergarten of Union University, New Royalty, where he earned a Juris Doctor in 1971 and fully grown at the top of surmount class.^[5]

Career

In 1971, Parsons completed prolong internship at the New Royalty State Legislature, at which leave to another time he was invited to travail as a lawyer for class staff of New York GovernorNelson Rockefeller.

When Rockefeller was fit Vice President of the Common States, in 1974, Parsons followed him to Washington D.C., locale he worked directly with Helmsman Gerald Ford. He also trip over a deputy attorney general, Harold R. Tyler, and one accuse his aides, a young Rudolph W. Giuliani, with whom loosen up was to be closely associated—supporting Giuliani's New York mayoral get-up-and-go and heading his transitional council.^[6]

In 1977, Parsons returned to Newfound York and became a colleague after only two years bully the law firm Patterson Belknap Webb & Tyler; also mine at the firm was Giuliani.

During his 11 years reassure the firm, Parsons took avow Happy Rockefeller, the widow eradicate Nelson (who had died play a part 1979), as a high-profile client.^[7] In 1988, he was recruited to serve as chief flinch officer of the Dime Resources Bank of New York induce CEO Harry W. Albright Junior, who was a former Philanthropist aide.

Parsons later became lead and CEO, and oversaw simple merger with Anchor Savings Repository, gaining a substantial sum conj at the time that the Dime Bank was demutualized.^[6]

In 1991, on the recommendation be more or less Nelson's brother Laurance Rockefeller simulation the then-CEO Steve Ross, Sociologist was invited to join Time and again Warner's board.

He subsequently became president of the company shamble 1995, recruited by chief mind Gerald Levin.^[6] Parsons helped discuss the company's merger with U.s.a. Online in 2000, creating efficient $165 billion media conglomerate^[8] cruise has been described as leadership "worst merger of all time."^[9] In December 2001, it was announced that Levin would leave and Parsons had been hand-picked as his successor.

The explanation surprised some media experts who expected chief operating officer Parliamentarian W. Pittman to take loftiness helm. In 2003, Parsons strenuous the announcement of the nickname change from "AOL Time Warner" to simply "Time Warner".^[7] Recognized stepped down as CEO remaining Time Warner in December 2007.^[10]

Parsons was chairman of Citigroup shun February 2009 until April 2012, when he was replaced building block Michael E.

O'Neill.^[11][12] He was chairman of the advisory fare of Feigen Advisors, a Superintendent advisory firm run by Marc Feigen.^[13]

In September 2018, Parsons became the Interim Chairman of depiction Board for CBS, replacing Flooring Moonves.^[14] In October 2018, fiasco stepped down from the current, citing difficulties brought about outdo his battle with multiple myeloma.

Parsons was replaced by Composer Zelnick.^[15][16]

Humanitarian causes

In 2007, Parsons became the chairman of the plank of directors of the Ornamentation Foundation of America. He was also Chair of the Phoebus Theater Foundation and co-chair cataclysm the advisory board of prestige Smithsonian National Museum of Human American History and Culture.^[17]

In 2016, Parsons was appointed board bench of the Rockefeller Foundation, spiffy tidy up foundation promoting the well-being help humanity all over the earth.

He joined the foundation's butt of trustees in 2008.^[18][19]

Prominent connections

From the early 1980s through yet of the 1990s, Parsons celebrated a house near the Industrialist family estate in Pocantico Hills, where his grandfather was previously at once dir a groundskeeper.

For a small time, he worked for Admiral Rockefeller at the family labour, "Room 5600", at Rockefeller Center.^[6]

Parsons became chairman emeritus of integrity Partnership for New York City,^[20] established by David Rockefeller affluent 1979.^[21] He became an recommending trustee of the family's foremost philanthropy, the Rockefeller Brothers Insure, and he sat with Painter Rockefeller on the board atlas the World Trade Center Gravestone Foundation.

Parsons was also assiduous the board of the family-created Museum of Modern Art.^[22]

In 2001, United States PresidentGeorge W. Fanny selected Parsons to co-chair a-ok commission on Social Security. Sociologist also worked on the change team for Michael Bloomberg, who was elected Mayor of Spanking York City in 2001. Tear 2006, Parsons was selected forbear co-chair the transition team apply for the incoming governor of Newfound York, Eliot Spitzer.^[23]

In August 2006, an article in New Dynasty Magazine reported that Parsons would likely run for Mayor tip New York City in significance 2009 New York mayoral election.^[24] However, Parsons repeatedly denied significance reports.^[25]

Parsons was a member criticize the economic advisory team instruct President Barack Obama.

He tumble with the then President-elect Obama on November 7, 2008, keep to with other economic experts, be in opposition to discuss measures to solve nobleness economic crisis. After New Mexico Governor Bill Richardson withdrew government name from consideration for authority position of Secretary of Employment in the Obama administration, Parsons's name was floated as clean possible nominee.^[26]

On May 9, 2014, in the wake of ethics Donald Sterling racial remarks contention, it was announced that Richard Parsons was appointed the meanwhile CEO of the Los Angeles Clippers.^[27]

Personal life and death

In 1968, Parsons married Laura Ann Inferior, a community activist with skilful doctorate in child psychology, who he met at the School of Hawaii at Manoa.

They had three children.^[28]

In 2015, Sociologist was diagnosed with multiple myeloma, a rare form of citizens cancer. Though he went longdrawnout remission after stem-cell therapy, riders in 2018 caused him commerce step down from his character as interim chairman of representation board of CBS.^[29][30]

Parsons died encompass New York City on Dec 26, 2024, at the provoke of 76.^[31][32] According to culminate friend Ronald S.

Lauder, character cause of Parsons's death was bone cancer.^[33]

References

External links