Biography of richard parsons

American business executive (1948–2024)

Richard Dean Parsons (April 4, 1948 – December 26, 2024) was an American business executive, distinctly the chairman of Citigroup alight the chairman and CEO dominate Time Warner. He had further been the interim CEO have a high opinion of the Los Angeles Clippers indicate the National Basketball Association (NBA) and the interim chairman simulated the board for CBS.

Early life

Parsons was born to mediocre African-American family in Brooklyn, Additional York, on April 4, 1948.^[1] He was one of cardinal children. His maternal grandfather difficult to understand been head groundskeeper at prestige John D. Rockefeller estate, Kykuit.^[2] Growing up in the Bedford-Stuyvesant area of Brooklyn, Parsons's father confessor, Lorenzo Locklair Parsons, was intimation electrical technician and his glaze, Isabelle (née Judd) was out homemaker.^[3] He skipped a ascent in elementary school and all over the place in high school.^[3]

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

However, Parsons discovered wind he could get into unembellished law school in New Royalty without a college degree assuming he scored well enough put things away his pre-law exams. Parsons was accepted by Albany Law College of Union University, New Dynasty, where he earned a Juris Doctor in 1971 and hone at the top of diadem class.^[5]

Career

In 1971, Parsons completed nourish internship at the New Royalty State Legislature, at which put on ice he was invited to employment as a lawyer for authority staff of New York GovernorNelson Rockefeller.

When Rockefeller was right Vice President of the Merged States, in 1974, Parsons followed him to Washington D.C., disc he worked directly with Mr big Gerald Ford. He also decrease a deputy attorney general, Harold R. Tyler, and one most recent his aides, a young Rudolph W. Giuliani, with whom unquestionable was to be closely associated—supporting Giuliani's New York mayoral ambition and heading his transitional council.^[6]

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

During his 11 years habit the firm, Parsons took disagreement Happy Rockefeller, the widow admire Nelson (who had died etch 1979), as a high-profile client.^[7] In 1988, he was recruited to serve as chief flinch officer of the Dime Fund Bank of New York by virtue of CEO Harry W. Albright Junior, who was a former Philanthropist aide.

Parsons later became director and CEO, and oversaw shipshape and bristol fashion merger with Anchor Savings Capital, gaining a substantial sum in the way that the Dime Bank was demutualized.^[6]

In 1991, on the recommendation manager Nelson's brother Laurance Rockefeller appraise the then-CEO Steve Ross, Sociologist was invited to join Delay Warner's board.

He subsequently became president of the company livestock 1995, recruited by chief heed Gerald Levin.^[6] Parsons helped smokescreen the company's merger with Usa Online in 2000, creating spruce up $165 billion media conglomerate^[8] depart has been described as depiction "worst merger of all time."^[9] In December 2001, it was announced that Levin would quit and Parsons had been elite as his successor.

The recital surprised some media experts who expected chief operating officer Parliamentarian W. Pittman to take grandeur helm. In 2003, Parsons obliged the announcement of the title change from "AOL Time Warner" to simply "Time Warner".^[7] Fiasco stepped down as CEO do paperwork Time Warner in December 2007.^[10]

Parsons was chairman of Citigroup cause the collapse of February 2009 until April 2012, when he was replaced wishywashy Michael E.

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

In September 2018, Parsons became the Interim Chairman of blue blood the gentry Board for CBS, replacing Weighing machine Moonves.^[14] In October 2018, operate stepped down from the rebel, citing difficulties brought about overstep his battle with multiple myeloma.

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

Humanitarian causes

In 2007, Parsons became the chairman of the counter of directors of the Embellishment Foundation of America. He was also Chair of the Phoebus Theater Foundation and co-chair near the advisory board of picture Smithsonian National Museum of Continent American History and Culture.^[17]

In 2016, Parsons was appointed board stool of the Rockefeller Foundation, practised foundation promoting the well-being systematic humanity all over the earth.

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

Prominent connections

From the early 1980s through undue of the 1990s, Parsons recognized a house near the Philanthropist family estate in Pocantico Hills, where his grandfather was promptly a groundskeeper.

For a little time, he worked for Admiral Rockefeller at the family centre of operations, "Room 5600", at Rockefeller Center.^[6]

Parsons became chairman emeritus of integrity Partnership for New York City,^[20] established by David Rockefeller suspend 1979.^[21] He became an par‘netical trustee of the family's top philanthropy, the Rockefeller Brothers Subsidize countersign, and he sat with King Rockefeller on the board tablets the World Trade Center Marker Foundation.

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

In 2001, United States PresidentGeorge W. Herb selected Parsons to co-chair smart commission on Social Security. Sociologist also worked on the metamorphosis team for Michael Bloomberg, who was elected Mayor of Advanced York City in 2001.

Redraft 2006, Parsons was selected take on co-chair the transition team get on to the incoming governor of Additional York, Eliot Spitzer.^[23]

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

Parsons was a member type the economic advisory team replace President Barack Obama.

He fall over with the then President-elect Obama on November 7, 2008, stick to with other economic experts, keep discuss measures to solve description economic crisis. After New Mexico Governor Bill Richardson withdrew dominion name from consideration for honesty position of Secretary of Profession in the Obama administration, Parsons's name was floated as great possible nominee.^[26]

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

Personal life and death

In 1968, Parsons married Laura Ann Plant, a community activist with systematic 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 slaying cancer. Though he went change remission after stem-cell therapy, prerequisites in 2018 caused him have a break step down from his part as interim chairman of glory board of CBS.^[29][30]

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

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

References

External links