Richard Parsons, Trailblazing Former Time Warner CEO Known as "Captain Emergency," Dies at 76

Dec 26, 2024, 10:14 PM

Richard Parsons, former CEO of Time Warner and chairman of Citigroup and CBS, has died at the age of 76. Diagnosed with multiple myeloma in 2015, he passed away at his home in Manhattan. Parsons was known as "Captain Emergency" for leading major corporations through challenging periods. He guided Time Warner through its separation from AOL after their unsuccessful merger and managed a $99 billion write-down in 2002, the largest recorded loss for an American corporation at the time. Parsons also served as interim CEO of the Los Angeles Clippers. Recognized as a trailblazing African-American executive, he broke barriers and opened doors for others in the business world. Industry leaders have lauded his contributions, with David Zaslav calling him "one of the great problem solvers this industry has ever seen."