Richard Parsons, Who Rescued Time Warner, Citigroup, Dies at 76
- As CEO at AOL Time Warner, he stabilized a sinking ship
- Tapped to run Los Angeles Clippers after scandal hit team
Photographer: David A. Grogan/NBCUniversal/Getty Images
Richard Parsons, the executive dubbed “Captain Emergency” for his record of stabilizing ailing companies such as AOL Time Warner, Citigroup Inc. and Dime Savings Bank of New York, has died. He was 76.
Parsons died on Thursday at his home in Manhattan. The cause of death was bone cancer, the New York Times reported, citing Ronald S. Lauder, a friend. Parsons was named chairman of CBS Corp. in September 2018 and resigned less than one month later, citing complications from multiple myeloma, a blood cancer.