\n<\/p>\n
Unlock the Editor\u2019s Digest at no cost<\/p>\n
Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.<\/span><\/p>\n<\/iframe><\/div>\n<div id=\"article-body\">\n<p>Richard \u201cDick\u201d Parsons, an influential US company government who led two troubled corporations by means of their most dire durations, has died.<\/p>\n<p>Parsons died on Thursday in line with <a href=\"https:\/\/lazard.com\/news-announcements\/remembering-dick-parsons-longtime-lazard-board-member\/\" data-trackable=\"link\">an announcement<\/a> from funding financial institution Lazard, the place he had been a board member. The New York Instances reported the reason for demise was bone most cancers, citing Ronald Lauder, the inheritor to the wonder firm Est\u00e9e Lauder, the place Parsons had additionally served on the board of administrators. Parsons, considered one of America\u2019s highest-ranking Black executives for 20 years, was 76.<\/p>\n<p>Parsons took over as chair of Citigroup in February 2009 because the financial institution was reeling from the 2008 monetary disaster. He had been on the board since 1996, however took the chair function shortly after its $300bn bailout from the federal authorities. Parsons <a href=\"https:\/\/www.ft.com\/content\/678b9d38-e81a-11dd-b2a5-0000779fd2ac\" data-trackable=\"link\">told the Financial Times<\/a> in 2009 that his background and enterprise connections can be an asset at Citi.<\/p>\n<p>\u201cThe affect and the involvement of the taxpayer and regulators over this firm is critical,\u201d he mentioned on the time.<\/p>\n<p>Parsons confronted the controversial choice about whether or not to maintain Vikram Pandit as <a href=\"https:\/\/www.ft.com\/citigroup\" data-trackable=\"link\">Citi<\/a> chief government. He finally saved Pandit and Citi swung again to revenue. <\/p>\n<p>Parsons additionally fought to maintain Citi from being taken over by the federal authorities. He supported Barack Obama for his White Home bid and urged the brand new president\u2019s administration to not nationalise the nation\u2019s ailing banks.<\/p>\n<p>\u201cI used to be flying air cowl as our floor troops received their act collectively,\u201d Parsons <a href=\"https:\/\/www.ft.com\/content\/d1ed4450-6b62-11e1-ac25-00144feab49a\" data-trackable=\"link\">told the FT<\/a>. \u201cNow it\u2019s time for the bottom battle to begin.\u201d He stepped down from Citi in 2012.<\/p>\n<p>Parsons beforehand jumped right into a firefight in 2002 when he took over Time Warner after its disastrous merger with AOL. <\/p>\n<p>Accomplished in 2001, the merger got here on the peak of the web growth and valued Time Warner at $164bn. However it rapidly suffered a collection of big writedowns, together with a $100bn cost in 2002.<\/p>\n<p>At Time Warner, Parsons sparred with activist investor Carl Icahn who fought for management of the media big in 2006.<\/p>\n<p>Earlier than his company life, Parsons served in state and federal authorities as a counsel for former New York governor Nelson Rockefeller and as a White Home aide for president Gerald Ford.<\/p>\n<p>Parsons was as a member of Obama\u2019s financial transition group in 2008. He additionally served on the boards of the Apollo Theater in New York and the Nationwide Museum of African American Historical past and Tradition in Washington.<\/p>\n<p>Parsons was additionally CEO at Nationwide Basketball Affiliation group the Los Angeles Clippers.<\/p>\n<p>\u201cDick Parsons was a superb and transformational chief and an enormous of the media business who led with integrity and by no means shied away from a problem,\u201d NBA commissioner Adam Silver mentioned on Thursday.\u00a0<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.ft.com\/content\/4e889cb3-2b0b-4c44-bcfe-f265a26e722c\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest at no cost Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter. Richard \u201cDick\u201d Parsons, an influential US company government who led two troubled corporations by means of their most dire durations, has died. Parsons died on Thursday in line with an announcement from funding financial […]<\/p>\n","protected":false},"author":1,"featured_media":15862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1932,5127,4476,11728,11180],"class_list":["post-15860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-chair","tag-citigroup","tag-dies","tag-parsons","tag-richard"],"_links":{"self":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/15860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15860"}],"version-history":[{"count":0,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/15860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/media\/15862"}],"wp:attachment":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/iframe><\/div>\n<div id=\"article-body\">\n<p>Richard \u201cDick\u201d Parsons, an influential US company government who led two troubled corporations by means of their most dire durations, has died.<\/p>\n<p>Parsons died on Thursday in line with <a href=\"https:\/\/lazard.com\/news-announcements\/remembering-dick-parsons-longtime-lazard-board-member\/\" data-trackable=\"link\">an announcement<\/a> from funding financial institution Lazard, the place he had been a board member. The New York Instances reported the reason for demise was bone most cancers, citing Ronald Lauder, the inheritor to the wonder firm Est\u00e9e Lauder, the place Parsons had additionally served on the board of administrators. Parsons, considered one of America\u2019s highest-ranking Black executives for 20 years, was 76.<\/p>\n<p>Parsons took over as chair of Citigroup in February 2009 because the financial institution was reeling from the 2008 monetary disaster. He had been on the board since 1996, however took the chair function shortly after its $300bn bailout from the federal authorities. Parsons <a href=\"https:\/\/www.ft.com\/content\/678b9d38-e81a-11dd-b2a5-0000779fd2ac\" data-trackable=\"link\">told the Financial Times<\/a> in 2009 that his background and enterprise connections can be an asset at Citi.<\/p>\n<p>\u201cThe affect and the involvement of the taxpayer and regulators over this firm is critical,\u201d he mentioned on the time.<\/p>\n<p>Parsons confronted the controversial choice about whether or not to maintain Vikram Pandit as <a href=\"https:\/\/www.ft.com\/citigroup\" data-trackable=\"link\">Citi<\/a> chief government. He finally saved Pandit and Citi swung again to revenue. <\/p>\n<p>Parsons additionally fought to maintain Citi from being taken over by the federal authorities. He supported Barack Obama for his White Home bid and urged the brand new president\u2019s administration to not nationalise the nation\u2019s ailing banks.<\/p>\n<p>\u201cI used to be flying air cowl as our floor troops received their act collectively,\u201d Parsons <a href=\"https:\/\/www.ft.com\/content\/d1ed4450-6b62-11e1-ac25-00144feab49a\" data-trackable=\"link\">told the FT<\/a>. \u201cNow it\u2019s time for the bottom battle to begin.\u201d He stepped down from Citi in 2012.<\/p>\n<p>Parsons beforehand jumped right into a firefight in 2002 when he took over Time Warner after its disastrous merger with AOL. <\/p>\n<p>Accomplished in 2001, the merger got here on the peak of the web growth and valued Time Warner at $164bn. However it rapidly suffered a collection of big writedowns, together with a $100bn cost in 2002.<\/p>\n<p>At Time Warner, Parsons sparred with activist investor Carl Icahn who fought for management of the media big in 2006.<\/p>\n<p>Earlier than his company life, Parsons served in state and federal authorities as a counsel for former New York governor Nelson Rockefeller and as a White Home aide for president Gerald Ford.<\/p>\n<p>Parsons was as a member of Obama\u2019s financial transition group in 2008. He additionally served on the boards of the Apollo Theater in New York and the Nationwide Museum of African American Historical past and Tradition in Washington.<\/p>\n<p>Parsons was additionally CEO at Nationwide Basketball Affiliation group the Los Angeles Clippers.<\/p>\n<p>\u201cDick Parsons was a superb and transformational chief and an enormous of the media business who led with integrity and by no means shied away from a problem,\u201d NBA commissioner Adam Silver mentioned on Thursday.\u00a0<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.ft.com\/content\/4e889cb3-2b0b-4c44-bcfe-f265a26e722c\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unlock the Editor\u2019s Digest at no cost Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter. Richard \u201cDick\u201d Parsons, an influential US company government who led two troubled corporations by means of their most dire durations, has died. Parsons died on Thursday in line with an announcement from funding financial […]<\/p>\n","protected":false},"author":1,"featured_media":15862,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1932,5127,4476,11728,11180],"class_list":["post-15860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-chair","tag-citigroup","tag-dies","tag-parsons","tag-richard"],"_links":{"self":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/15860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15860"}],"version-history":[{"count":0,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/posts\/15860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=\/wp\/v2\/media\/15862"}],"wp:attachment":[{"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thisbiginfluence.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}