American businessman and former CEO of the former largest media company in the world Time Warner, Richard Parsons, died on Thursday (local time) at the age of 76, according to consistent media reports.
According to CNN, Parsons helped major American companies deal with crises, including Time Warner and the bank Citigroup. Under Parsons’ leadership, Time Warner paid off billions of dollars in debt in the early 2000s.
It also settled authorities’ investigation into the 2000 merger of Time Warner and AOL. “His legacy lives on in the countless leaders he advised, in the institutions he renovated and in the doors he opened for others ,” wrote the American investment bank Lazard, where Parsons became a member of the board of directors in 2012.
Source: Krone
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