Richard Parsons, the executive known as “Captain Emergency” for his ability to stabilize struggling companies, has passed away at the age of 76. Parsons died on Thursday due to bone cancer. He was previously CEO of AOL Time Warner and Citigroup Inc., and briefly served as chairman of CBS Corp.
Prior to his passing, Parsons gained recognition for his leadership skills, particularly during a tumultuous period with AOL Time Warner. Under his guidance, the company stabilized after facing significant financial difficulties. This experience led to him being tapped to take over the Los Angeles Clippers franchise after a scandal rocked the team.
Parsons’ legacy is marked by his ability to bring stability to companies on the brink of collapse. He will be remembered for his dedication to leadership and his impact on several high-profile organizations.
Source: https://www.bloomberg.com/news/articles/2024-12-26/richard-parsons-who-rescued-time-warner-citigroup-dies-at-76