He pours a glass of his beloved Brunello di Montalcino, grown and bottled in his own Italian vineyard, a purchase he made almost two decades ago when he envisioned the sort of bucolic retirement that's eluded him ever since.

", As it started to collapse, so did aspects of Levin's private life. "It is to some extent an AOL Time Warner redo. "When you grew up in the '50s and '60s and you were black and had talent, you were supposed to be a doctor or a minister. "I'm actually a type-B personality. "You can't apply the same mechanics. ", Parsons' onetime protege and current Time Warner CEO Bewkes agrees. They went with stability and empathy.

Three years later, in 1991, on the recommendation of Nelson's brother Laurance Rockefeller to the then CEO Steve Ross, Parsons was invited to join Time Warner's board; he subsequently became president of the company in 1995, recruited by chief executive Gerald Levin. During his 11 years at the firm Parsons took on Happy Rockefeller, the widow of Nelson (who had died in 1979) as a high-profile client. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. Can only be used for the specific purposes listed. [21] Parsons, however, repeatedly denied the reports,[22] supported Mayor Bloomberg's efforts to repeal the term limits law, and supported Bloomberg for a third term in office. [You have] AT&T, a major communication company, but basically a distribution company. "He was the steady hand they needed after the challenge of AOL." He doesn't know what he doesn't know. Privacy | *, {{ t('save_amount', { amount_saved: formatPrice(pack.amountYouSave) }) }}, {{ t('pack_count_lowercase', { total: pack.packCount }) }}, {{t('compared_with_single_price', {price: formatPrice(selectedSize.price) }) }}, *UltraPacks never expire as long as you sign in at least once a year.

So who did we have come talk to us? After his son was killed, he just stayed in his apartment for three or four months. "When the first announcement was made [about his promotion to chairman and CEO], I went home and told my wife, and she looked at me and said: 'Well, congratulations.

[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. [23], Parsons was a member of the economic advisory team for President Barack Obama. To receive the magazine, click here to subscribe. ", Analysts largely credited Parsons with success, noting he managed to fend off calls to break up the company, while selling its slower-growing divisions. Your Getty Images representative will discuss a renewal with you. Richard Dean "Dick" Parsons (born April 4, 1948), an American business executive, is the former chairman of Citigroup and the former chairman and CEO of Time Warner. The Hollywood Reporter is part of MRC Media and Info, a division of MRC.

[9], Parsons became chairman of Citigroup on 23 February 2009. In 1977, Parsons returned to New York and became a partner after only two years at the Patterson Belknap Webb & Tyler law firm; also working at the firm was Giuliani.

[7] After four years, he was seven credits short of his diploma. "I knew, when I signed my contract, the day I would step down," he says. ", 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. ", His competitive vein must run deeper than one would guess from his easygoing charm, but it kicked in at Albany Law School, where he graduated top of his class and was No. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. Your team’s Premium Access agreement is expiring soon. "The disrupters, the new-media people, just had a whole different way of thinking about business, and when you really cut to the core of it, their job was to disintermediate the old-media guys. [25], In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. With his 6-foot-4-inch height, gentle bass voice and old-school courtesy, he seems born to lead, just as he did when he was called to be chairman and CEO of the ailing behemoth in May 2002, and then had to approve a massive write-down. 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.

Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. Protect your creative work – we’ll remove this image from our site for as long as you need it.

They have three grown children: Gregory, Leslie, and Rebecca. This video is part of our Analogue Archive, which means it isn’t stored on our website. Nelson Rockefeller, and when Rockefeller became vice president in 1974, "He asked me to come to Washington as one of his lawyers, so I went to work [in the White House] as general counsel and associate director of what was then the Domestic Counsel." It's been 16 years since that turning point, when the kid from Queens — the laid-back basketball player who found his groove as a lawyer, the African-American who became a White House insider, the accidental executive who reached the summit of American business — was charged with stanching the blood. He removes the mystery and reduces the ego conflicts. "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. Parsons comes as close as he ever will to throwing up his hands in exasperation. The Getty Images design is a trademark of Getty Images.

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. But he was the right guy in the right place at the right time. © 2020 Getty Images. ", There were other things he did that had long-term benefits, including selling off such assets as Warner Music Group and bringing together the company's senior executives for the first time in Time Warner's storied history — "about 300 people," he recalls. He was suffering from the effects of personal tragedy: the 1997 murder of his son Jonathan, 31, a Bronx high school teacher. For a brief time he worked for Nelson Rockefeller at the family office, "Room 5600", at Rockefeller Center.[8]. [6] He skipped a grade in elementary school and another in high school. "But the walled-garden model was starting to break down. [20], In August 2006, an article in New York Magazine reported that Parsons would likely run for Mayor of New York City in the 2009 New York mayoral election. [9] In 1988, he was recruited to serve as chief operating officer of the Dime Savings Bank of New York by CEO Harry W. Albright Jr., who was a former Rockefeller aide. The fact that he managed and survived — as did Time Warner, which is now on the brink of another mega-merger, with AT&T — is his most striking legacy. Rule number one: When put in a position of command, take charge, make decisions. I'm not driven.

President George W. Bush, Laura Bush and Richard Parsons KM 10474_012345_0271.JPG (Photo by KMazur/WireImage for Turner). At one point, there was some discussion of Parsons joining President Barack Obama's cabinet as secretary of commerce, but that was nipped in the bud when he was diagnosed with multiple myeloma; he is now in remission, following a stem cell transplant. Dick simplified our corporate structure and redesigned our management makeup, at which point investors, employees and business partners were able to buy into the renewed promise for growth and success. So the theory, I get completely." [3] On October 21, 2018, he resigned for health reasons from CEO at CBS and was replaced by Strauss Zelnick. [12] He is chairman of the Advisory Board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. "It wasn't completely Machiavellian," says Parsons, with a smile, "although Jerry could be Machiavellian at times."

They have two children. [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? Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. He ruminates for some time before addressing the matter. Does he approve of the merger? He's come an unimaginable distance from his start in Queens, where he was raised the son of an electrical technician and a homemaker, a boy bright enough to skip two grades and then coast through the University of Hawaii. Though he went into remission after Stem-cell therapy, complications in 2018 caused him to step down from his role as Interim Chairman of the Board of CBS. Please carefully review any restrictions accompanying the Licensed Material on the Getty Images website and contact your Getty Images representative if you have a question about them. You have view-only access under this Premium Access agreement. Contact your company to license this image. 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.

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