The New York Times said the cause of death was cancer, citing Ronald Lauder, a longtime friend of Parsons and chairman of the board of Estee Lauder.
Richard D. Parsons, a longtime banking executive who took the helm of Time Warner during a troubled time for the communications company and who helped Citigroup navigate the financial crisis, died on Thursday at age 76.
Parsons was widely credited with the turnaround of Time Warner after its botched $165 billion merger with AOL, CNN reported. With Parsons as CEO, Time Warner slashed its debt by roughly half as it ushered in a new era of sustainable growth.Richard D. Parsons, a longtime banking executive who took the helm of Time Warner during a troubled time for the communications company and who helped Citigroup navigate the financial crisis, died at age 76.
Popular family-owned restaurant forced to close after ‘frivolous’ gender discrimination suit over ‘Ladies Night’Elon Musk shoots down 'wrong-headed economic thinking,' says there's 'infinite potential' for job creation Citigroup, in a statement, said: “Dick applied his legendary leadership capabilities during an incredibly challenging time for our company, leaving Citi better than he found it.”“At a time of adversity and uncertainty for the Los Angeles Clippers, Dick stepped in to provide the type of steady and reassuring leadership that defined his remarkable career in business and public service,” NBA Commissioner Adam Silver said In a statement Thursday.
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