Richard Parsons, Former CEO of Time Warner and Citigroup, Dies at 76

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Richard Parsons, a prominent Black executive who led Time Warner and Citigroup, died at the age of 76. He passed away on December 26, 2024, at his home in Manhattan due to bone cancer. Parsons had been battling multiple myeloma, a type of blood cancer, and experienced a resurgence of his condition before his death.

Parsons was widely recognized for his leadership in stabilizing and revitalizing major corporations. He served as the CEO of AOL Time Warner from 2002 to 2007, during which he led the company through a challenging period following the failed AOL merger. In 2003, he announced the name change from AOL Time Warner back to Time Warner. Later, from 2009 to 2012, he was the chairman of Citigroup, where he played a crucial role in the bank's recovery from financial difficulties.

In addition to his corporate roles, Parsons had a significant impact on various civic and non-profit organizations. He was the Chairman Emeritus of the Partnership for New York City, Chairman of the Apollo Theatre Foundation, and the Jazz Foundation of America. He also served on the boards of the Museum of Modern Art, the American Museum of Natural History, The Estee Lauder Companies, Inc., and Madison Square Garden, Inc.

Parsons' legacy as a steady and effective leader in the corporate world and his contributions to various cultural and civic institutions will be remembered fondly by many.