Richard Parsons was celebrated for his ability to guide major corporations through challenging periods. He is survived by his wife, Laura, and their three children.
Richard Parsons, a distinguished American business executive known for his leadership roles at Time Warner and Citigroup, passed away on December 26, 2024, at the age of 76.
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Parsons was diagnosed with multiple myeloma, a rare blood cancer, in 2015. Despite undergoing treatment, including stem-cell therapy, he faced complications that led him to reduce his professional commitments in recent years.
About Richard Parsons
Throughout his career, Parsons was celebrated for his ability to guide major corporations through challenging periods. As CEO of Time Warner from 2002 to 2007, he played a pivotal role in stabilizing the company following its merger with AOL, reducing debt, and fostering sustainable growth.
In 2009, during the aftermath of the financial crisis, Parsons became chairman of Citigroup. His leadership was instrumental in steering the bank back to profitability and preventing a full-scale nationalization.
Beyond his corporate endeavors, Parsons served as interim CEO of the NBA’s Los Angeles Clippers in 2014, following a racism scandal involving the team’s previous owner.
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He was also actively involved in various cultural and philanthropic organizations, including the Apollo Theater and the National Museum of African American History and Culture.
Parsons is survived by his wife, Laura, and their three children. His legacy is marked by his transformative leadership and significant contributions to the business world.