Parsons remained optimistic, but he proceeded cautiously. He was replaced by Strauss Zelnick. "Reeling Like a Bad Movie: AOL Time Warner." DETAILS. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. Llewellyn, J. Bruce 1927 But, in this case, Parsons sits at the helm of one of the largest media companies in the world, Time Warner. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. In May 2014, in the wake of the Donald Sterling racial remarks controversy, Parsons was appointed the interim CEO of the Los Angeles Clippers. Detroit, Mich.: Gale Research, 1996. Under his tutelage the bank staged a remarkable comeback, largely through his massive overhauling of the banks management systems and work force. Parsons began his career working as a lawyer and counsel for former New York governor Nelson Rockefeller. Jet (December 24, 2001): p. 6. [9], Parsons was chairman of Citigroup from February 23, 2009[12] until April 2012 when he was replaced by Michael O'Neill. "AOL Time Warner Still Fixing Holes." I know the bank is in good hands.. They have three grown children. Parsons later lived in a guesthouse on the estate. [17][18], From the early 1980s through much of the 1990s, Parsons owned a house near the Rockefeller family estate in Pocantico Hills (see Kykuit), where his grandfather was once a groundskeeper. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. In spite of its debt, the company reported an overall increase in revenue (6 percent) in early 2004, thanks to three of the Time Warner divisions: film, cable, and network advertising. [1] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. [5] Growing up in the Bedford-Stuyvesant area of Brooklyn, Parsons's father, Lorenzo Locklair Parsons, was an electrical technician and his mother, Isabelle (ne Judd) was a homemaker. NEW YORK, NY - FEBRUARY 18: Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. [CDATA[ The Parsons appointment was not without controversy at Time Warner. ." I know the bank is in good hands., Some considered the Parsons appointment at Time Warner to be a significant achievement for black executives, one that helps pave the way for them to enter the highest positions in business. That same year, he scored the highest marks out of the nearly four thousand lawyers who took the New York State bar examination. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. warren central student killed 2022. Decker, Ed "Parsons, Richard Dean 1948 1946 True, Parsons had proven to be flexible enough to succeed in the banking world, but he had absolutely no background in media and entertainment. Parsons graduated from the University of Hawaii and earned his J.D. While in Hawaii, he also met his future wife, Laura Bush. He stepped down as CEO of Time Warner on December 31, 2007. In the early 1990s he became president of Time Warner Inc., making him one of the most highly ranked African Americans in the corporate United States. Though he went into remission after Stem-cell therapy, complications in 2018 caused him to step down from his role as Interim Chairman of the Board of CBS. Parsons became a board member for Time Warner, Inc., Phillip Morris, Tristar Pictures, Harvard University, and the Metropolitan Museum of Art. Apparently it was the right decision. Peter J. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. "Can Dick Parsons Rescue AOL Time Warner?" Notable Black American Men, Book II. ExperienceIT, +5 more. Newsweek (January 24, 2000): p. 36. "Time Warner Drops AOL Name." Bell, Gregory S., "Richard Dean Parsons." In Contemporary Black Biography. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. (Photo by Shahar Azran/WireImage) Embed. Parsons chose to support Rudolph Giuliani in the New York City mayoral race instead of Democrat black mayor David Dinkins. When Rockefeller was appointed Vice President of the United States, in 1974, Parsons followed him to Washington D.C., where he worked directly with President Gerald Ford. Encyclopedia.com. In 2001 Parsons was named the successor to AOL Time Warners CEO, Gerald Levin, who was retired in May of 2002. Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. Vol. After all, Parsons had sat on the company's board of directors for several years, and had developed close ties with top TW executives. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. Just twenty-three years old, and fresh out of law school, Parsons landed a job as an aide on the legal staff of Nelson Rockefeller (19081979), the governor of New York. Born April 4, 1948 in Brooklyn, NY; son of Lorenzo tocklair (an airline technician) and Isabelle (a homemaker; maiden name, Judd) Parsons; married Laura Ann Bush, August 30, 1968; children: Gregory, Leslie, Rebecca Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School J.D., 1971. Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. NEW YORK, NY - FEBRUARY 18: L to R: Stephen Byrd and Jessye Norman, Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. Born: March 28, 1946, in Chicago, Illinois., Public Company With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. According to Better Chance president Sandra Timmons, as quoted by Hispanic PRWire, "Richard Parsons serves as a role model for aspiring executives of all races, but his success has earned him a special leadership role among African Americans.". In 2015, Parsons was diagnosed with multiple myeloma, a rare blood cancer. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. Get our quarterly newsletter to stay up-to-date, plus all speech or video narrative bookings near you as they happen. Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. Newzjunky - JCC Releases President's And Dean's Lists For Fall 2013 m.facebook.com. Not one. Also fueling his rise were connections he has made with important people over the years. Three years later, in 1991, on the recommendation of Nelson's brother Laurance Rockefeller to the then CEO Steve Ross, Parsons was invited to join Time Warner's board; he subsequently became president of the company in 1995, recruited by chief executive Gerald Levin. He became such a trusted adviser that in 1974, when Rockefeller headed to Washington to serve newzjunky louise bartholomew nicole edward. In 1999, when AOL and Time Warner merged, parsons became the co-chief operating officer, a position shared with Bob Pittman. Parsons lost no time in putting his years of Washington deal-making into action. Regardless, Parsons is consistently applauded by various groups for the inspiration he provides to young people everywhere. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. He has claimed that race was never a defining character in his life. Parsons accepted the presidency for a reported salary of several million dollars a year. And, after taking over as chairman from Steve Case, who stepped down in January of 2003, Parsons went to work to repair the damage from the AOL merger. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. In the latter post, Parsons focused on drug issues. Parsons was born in the economically disadvantaged Bedford-Stuyvesant neighborhood of Brooklyn, New York on April 14, 1948 to Lorenzo Locklair, an airline technician (who installed and repaired electronic navigation systems for the Sperry Rand Company), and Isabelle Judd Parsons (a homemaker). . did desi arnaz jr have a stroke; moose tracks vs cow tracks ice cream Listen to article. To this union three children were born (Gregory, Leslie, and Rebecca). As he later told Black En terprise, My wife talked me into it. Parsons was chairman of Citigroup from 2009 until 2012. in history from the University of Hawaii in 1968. 2008 redeem team starting 5; who is sarah davis married to; As a result, the company struggled to maintain its credibility, its stock prices tumbled, and it faced $27 billion in debt. But it's not my life. ." Addresses: Office AOL Time Warner, 75 Rockefeller Plaza, New York, NY 10019. council and then as associate director of the domestic council. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. . Encyclopedia.com. While in Hawaii, he also met his future wife, Laura Bush. Contemporary Black Biography. Time (December 17, 2001). Black Firsts. Parsons met Laura, a. Parsons' responsibilities at Time Warner included corporate finance and legal affairs activities and membership on the board of directors as well as the boards of TriStar Pictures and the Cable Group, American Television, and Communication (now Time Warner Cable). Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. Richard Dean Parsons (born April 4, 1948), an American business executive, is the former chairman of Citigroup and the former chairman and CEO of Time Warner. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. As one AOL shareholder told Business Week, "Dick is the right guy to be running the company right now." The drag on the company continued to be AOL, which consistently floundered. The Atlanta Journal-Constitution wrote, His designation as chief executive of the $36 billion media empire proves that African-Americans can not only perform in positions of commercial leadership but can wildly surpass all expectations. Known for his excellent mediation skills and his ability to put others at ease, Parsons told The Atlanta Journal-Constitution that he is a lunch pail manager who will display an in-the-trenches style of leadership. In 2007, he became the chairman of the board of directors of the Jazz Foundation of America. When departing Deputy Attorney General Harold R. Tyler, Jr., became a partner at a well-established New York City law firm in 1977, he asked Parsons to come on board. [24], Parsons was a member of the economic advisory team for President Barack Obama. [30][31], Last edited on 10 February 2023, at 21:13, Donald Sterling racial remarks controversy, "Time Warner Confirms Parsons Stepping Down", "UH alumnus replacing Les Moonves as interim chairman of CBS", "Parsons Resigns From CBS Board due to Health Reasons: Dick Parsons resigns from CBS board, Strauss Zelnick steps into role of interim chairman", "Citigroup Chairman Richard Parsons TIME", "Did New Clippers CEO Dick Parsons Really Play College Basketball? [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. He received a juris doctorate from the Union University, University of Albany Law School in 1971. [27], In 2015, Parsons was diagnosed with multiple myeloma, a rare form of blood cancer. It's like height. (September 18, 2003) http://money.cnn.com/2003/09/18/technology/aol_name (accessed on July 31, 2004). Some top officials at the bank questioned his appointment, both because of his lack of experience in the banking industry and his previous work in government that made him likely to leave the company for the political arena. Parsons also served as chairman of the Apollo Theater Foundation, Inc. and sat on the boards of several arts, educational, and commercial organizations, including the Metropolitan Museum of Art, Citigroup, and Este Lauder, Inc. Parsons served as trustee of numerous Rockefeller entities, including one that holds stock in all of the family businesses. Parsons became chairman emeritus of the Partnership for New York City,[19] established by David Rockefeller in 1979,[20] who has known him for many years. Observer, (London, England) December 9, 2001, p. 4. , My wife talked me into it p. 6 2015, Parsons became chairman. Economic advisory team for the inspiration he provides to young people everywhere 31, ). 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