[2] He was previously the interim CEO of the Los Angeles Clippers NBA franchise. Parsons later became Chairman and CEO[8] and oversaw a merger with Anchor Savings Bank, gaining a substantial sum when the Dime Bank was demutualized. Your Getty Images representative will discuss a renewal with you. ", Throughout, the executive was aware that a clock was ticking, knowing he planned to resign at age 60; he did so on Jan. 1, 2008. 1 among the 4,000 potential lawyers who sat for the New York State Bar — which surprised even him. "I was perhaps the least successful student of my generation," he admits. [29][30], Donald Sterling racial remarks controversy, "Citigroup Chairman Richard Parsons - TIME", "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", "Did New Clippers CEO Dick Parsons Really Play College Basketball? "It was the experience of a lifetime," he recalls, but "I was ready to go. [5] Growing up in the Bedford-Stuyvesant area of Brooklyn, Parsons's father, Lorenzo Locklair Parsons, was an electrical technician and his mother, Isabelle (née Judd) was a homemaker. But they got the wrong guy. "Jerry was trying to deal with all that emotion. Does he approve of the merger? And the practice? ". "I'm actually a type-B personality. {{selectedSize.discountPrice || selectedSize.price}}, {{ assetSizeLabel(selectedSize)}} {{formatPrice(selectedSize.discountPrice || selectedSize.price)}}, {{::t('download_workflow.download_will_be_saved_to_dropbox')}}. [You have] AT&T, a major communication company, but basically a distribution company. ", In his own life, he pretty much always has; it's the source of the respect and fondness his former colleagues have for him. Sitting in his elegant offices over lunch one recent afternoon, 47 floors above Manhattan's Central Park, the 69-year-old looks back on that time with wry detachment. Boards are the best place to save images and video clips. If Levin was dry, Parsons was distinctly wet, rather to his credit, "if you think being wet is good," he quips. The colleagues were a study in contrasts. [9], Parsons became chairman of Citigroup on 23 February 2009. It's a 24/7 kind of job.". In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. The two started talking and eventually broached the idea of joining forces, thereby linking a prime exemplar of old media with the foremost exponent of new media, the dominant internet player of the era. In 2003, Parsons made the announcement of the name change from AOL Time Warner to simply Time Warner. [6] He later attended the University of Hawaii at Manoa, where at 6'4" tall he may have played varsity basketball. AOL would buy Time Warner for around $160 billion in a pact valued at $300 billion; a year later the Federal Trade Commission gave it a go-ahead. So the theory, I get completely." "And something like my slip was a rude awakening that you are far away from the paradigm of perfect.". He is also Chair of the Apollo Theater Foundation and Co-Chair of the Advisory Board of the Smithsonian National Museum of African American History and Culture. "When the East Coast tries to invade Hollywood, unless you run the business the way they have run the business, it's not going to work," says Parsons, now a senior adviser with Providence Equity Partners. He can almost see where he grew up, or would if he could just crane his head a bit farther east. [He said] 'You take care of things till I get back.' "We didn't have any lawyers in our neighborhood," he says. Instead, 10 years after he left Time Warner with a view to retire — after getting sucked into stints at Citigroup and the L.A. Clippers, both of which he brought back from the brink — he's at last easing into a semi-retirement, even if it involves a host of commitments, from the Rockefeller Foundation to the Apollo Theater in Harlem to various educational charities and investment endeavors. "I always thought very highly of him," says James Goss, managing director of Barrington Research. There were rumors that another executive, Robert Pittman, would get the job; but the board chose the man nicknamed Huggy Bear. Your team’s Premium Access agreement is expiring soon. If the executive had been younger, perhaps he too would have run for office; if not for the myeloma, there was speculation he might become mayor of New York. He swirls the wine, savors it, then sips. He stepped down as CEO of Time Warner on December 31, 2007. It was his connection to the Rockefellers, whose foundation he now chairs, that initiated a long association with the Republican Party, which may be coming to an end. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. He said, 'I have two. Parsons met Laura… Anyone in your organisation can use it an unlimited number of times for up to 15 years, worldwide, with uncapped indemnification. Sitemap | They have three grown children: Gregory, Leslie, and Rebecca. After his son was killed, he just stayed in his apartment for three or four months. Approvals and clearances are based on the intended use. 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. Its premise — that AOL could charge subscribers for Time Warner's content — proved misguided, as did the assumption that the internet bubble would never pop. In late 2001, AOL Time Warner was in free fall. "History will record that it was really Jerry's deal," he notes, "but at the end of the day I voted for it. Parsons was accepted by Albany Law School of Union University, New York, where he earned a Juris Doctor in 1971, finishing at the top of his class.