Observer, (London, England) December 9, 2001, p. 4. In his eleven years with Patterson, Parsons cemented his reputation as a skilled negotiator. He was replaced by Strauss Zelnick. Peter J. In the latter post, Parsons focused on drug issues. In 2000, Parsons guided the merger of Time Warner with America Online (AOL). The hope was that by combining forces they would make the most successful merger in history: AOL would have access to Time Warner's massive media content and it would be able to reach even more users thanks to TW's cable television operations. I dont do anything differently than I would otherwise because I have that responsibility to my family, he told the New York Times in 1994. Encyclopedia.com. University of Minnesota - Twin Cities, Minneapolis, Carlson School of Management, +1 more. Parsons began his career as a member of New York governor Nelson Rockefeller's legal staff where he served when Rockefeller became vice president of the United States under President Gerald Ford in 1974. It also brought Parsons to the attention of high-ranking people who later sought his services. In the early 1990s he became president of Time Warner Inc., making him one of the most highly ranked African Americans in the corporate United States. That same year, he scored the highest marks out of the nearly four thousand lawyers who took the New York State bar examination. With the bank on solid ground, Parsons set his sights on a new enterprise. Whether I was an African-American, an Arab-American, a Jewish-American, or some other American, there are a lot of people who I cannot let down, so you have to live your life a certain way to be a role model to the people who are important to you.. Admiration for Parsonss skills in the business world resulted in his being courted as a board member for a number of leading companies and institutions, including Time Warner Inc., Philip Morris, Tristar Pictures, Howard University, and the Metropolitan Museum of Art. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. A lawyer and politician, John Vliet Lindsay (born 1921) was a member of the U.S. Congress from 1959 to 1965 and mayor of New York, https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948-0, http://news.com.com/2009-1023-873910.html, http://money.cnn.com/2003/09/18/technology/aol_name, http://money.cnn.com/2001/12/05/ceos/parsons_profile, https://www.encyclopedia.com/general/culture-magazines/parsons-richard, http://www.hawaii.edu/offices/bor/honorary/php?person=RP, https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. Memberships: Member of presidential Drug Task Force; chairman, Wildcat Service Organization. Bell, Gregory S., "Richard Dean Parsons." Parsons was accepted by Albany Law School of Union University, New York, earning a Juris Doctor in 1971, finishing at the top of his class. Parsons was born in the economically disadvantaged Bedford-Stuyvesant neighborhood of Brooklyn, New York on April 14, 1948 to Lorenzo Locklair, an airline technician (who installed and repaired electronic navigation systems for the Sperry Rand Company), and Isabelle Judd Parsons (a homemaker). . [30][31], Last edited on 10 February 2023, at 21:13, Donald Sterling racial remarks controversy, "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", "Citigroup Chairman Richard Parsons TIME", "Did New Clippers CEO Dick Parsons Really Play College Basketball? I know the bank is in good hands., Some considered the Parsons appointment at Time Warner to be a significant achievement for black executives, one that helps pave the way for them to enter the highest positions in business. "[11] In December 2001, it was announced that Levin would retire and Parsons had been selected as his successor. Contemporary Black Biography. Parsons joined the Domestic Council staff in March 1975, serving both as legal council and as an associate director. Contemporary Black Biography. Parsons' responsibilities at Time Warner included corporate finance and legal affairs activities and membership on the board of directors as well as the boards of TriStar Pictures and the Cable Group, American Television, and Communication (now Time Warner Cable). George and Laura welcomed their twin daughters, Jenna Bush Hager and Barbara Bush, on November 25, 1981. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. at the company, and as Gerald Levin's right-hand man. 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. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. Contemporary Black Biography. Hard work has been a crucial component of the Parsons success story, a value he claims to have learned from his father. The two met when Bush was still an aimless youth with no real idea of what he would be doing with his life. As a result of his involvement with Time Warner, he developed close ties with Robert W. Morgado, the chairman of the Warner Music Group, and Michael J. Fuchs, chairman of HBO.In the fall of 1994, Parsons was requested by Gerald M. Levin to become the president of Time Warner. X. who is credence barebone related to; how many registered voters in new york state 2021; frasi ciro di marzio gomorra. The position placed him second in command over the entire Time Warner holdings in magazine and book publishing, music, film entertainment, theme parks, and cable television. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. Henry Louis Gates Jr. New York: Oxford University Press, 2004. He was also in charge of the legal department and human resources. In African American Lives. At the same time people speculated about what role Parsons would play in Time Warner's future. Contemporary Black Biography. He stepped down as CEO of Time Warner on December 31, 2007. President Ford also used his services, first as a general. ." 23 Feb. 2023 . When Rockefeller was appointed Vice President of the United States in 1974, Parsons followed him to Washington, D.C., where he worked directly with Gerald Ford. There are a number of other black executives who have elevated positions in corporate America, said Parsons in Black Enterprise. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. He joined the foundation's board of trustees in 2008. Some top officials at the bank questioned his appointment, both because of his lack of experience in the banking industry and his previous work in government that made him likely to leave the company for the political arena. As he once told the New York Times, as reported by CNNMoney.com, "For a lot of people race is a defining issue. University of Hawaii System.http://www.hawaii.edu/offices/bor/honorary/php?person=RP (Accessed 2 December 2005). Broadcasting executive Percy E. Sutton served as Manhattan borough president between 1966 and 1977, Hank Paulson In a Black Enterprise article, Fonda Marie Lloyd and Mark Lowery stated that "colleagues say Parsons' management style helped smooth painful layoffs (two thousand of the four thousand employees) that he had to make." Then, they dont value it. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. Parsons, who's been married to psychologist Laura Bush for almost 50 years, acknowledges the pain it caused others and still causes him. Although she never cared to think in these terms, Jane Bolin would often have her name followed with the descriptive, "first black wo, John Vliet Lindsay "Richard D. Parsons Named New CEO of AOL Time Warner." Business executive When Rockefeller was appointed Vice President of the United States, in 1974, Parsons followed him to Washington D.C., where he worked directly with President Gerald Ford. Here, the little . Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner lnc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. He also earned staff respect at Dime with his fair treatment of personnel. This political stance was consistent with his rejection of the Democrats philosophy. Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. Eds. lauren bush david laura miranda kerr coocoo coconut oil marries models. Parsons was accepted by Albany Law School of Union University, New York, earning a Juris Doctor in 1971, finishing at the top of his class. . Still, when Levin announced, in late 2001, that Parsons became chairman emeritus of the Partnership for New York City,[19] established by David Rockefeller in 1979,[20] who has known him for many years. After his announcement as interim Clippers CEO in L.A. last week, the millionaire businessman reportedly flew back to the East Coast to be by her side as she underwent a medical procedure on Tuesday. ExperienceIT, +5 more. The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Smith, Jessie Carney, ed. as vice president, Parsons was invited along. Richard Dean Parsons was born on April 4, 1948, in Brooklyn, New York. Parsons was a bright child with a gift for charming people by telling entertaining stories. [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. "And he would do it in a way that everyone would feel good about the outcome." Apparently it was the right decision. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School, J.D., 1971. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. Parsons also remained a committed leader in other areas of public and community service. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. . Incorporated:l96S "Parsons, Richard As Parsons said in the New York Times in 1994, becoming a part of that Rockefeller entourage created for me a group of people whove looked out for me ever since. Parsons own concern for the underprivileged has been clearly shown by his work as chairman of the Wildcat Service Corporation, which has provided on-the-job instruction for people whose previous crimes, drug addiction, or poverty have made it difficult to find work. In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the well-being of humanity worldwide. In the same Business Week interview, the CEO revealed, "I take this job seriously. To this union three children were born (Gregory, Leslie, and Rebecca). To the rest of the world, they are former President George W. Bush and former first lady Laura Bush, but to Jenna Bush Hager's children . "Parsons, Richard They credit him with keeping employees informed every step of the way, at one point even producing several videos that were distributed to employees. When Albright departed the Dime, Parsons became chairman and CEO. It just isn't for me. Mayor Giuliani later asked Parsons to become his Deputy mayor for Economic Development. Fortune (August 8, 2004). . His 43 . laura bush parsonsis ora king salmon safe to eat. Among the qualities that makes Parsons as successful as he is, said Brooks, are "his focus, his ability to analyze the facts and get to the bottom line, and his ability to motivate an. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Michael Rogers is a salesman for Oracle software, In this segment, he shares career advice through the software industry. Time Warner faced its biggest challenge in 2000 when it announced plans to merge with America Online (AOL), which by the late 1990s had evolved into the nation's leading Internet provider. With the bank now on solid financial ground, he engineered a merger with Anchor Savings Bank to create Dime Bancorp in early 1995. "Richard Parsons: Profile." Critical to the next chapter in the Parsons success story was his work with the Dimes Saving Bank of New York, which he provided with legal counsel for about six years while with Patterson, Belknap, Webb & Tyler. Not one. Also fueling his rise were connections he has made with important people over the years. Beginning his legal career as an aide on New York governor Nelson Rockefellers legal staff, Parsons made a very favorable impression on the governor. As part of his management restructure, Parsons opted to lay off almost one-third of the Dime's staff. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. However, he discovered that he could get into a law school in New York without a college degree if he scored well enough on his pre-law exams. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. Parsons was asked to become the new president of Time Warner by its chairman, Gerald M. Levin, in the fall of 1994. He later attended the University of Hawaii at Manoa, where he played varsity basketball. ", "15 years later, lessons from the failed AOL-Time Warner merger", "Sir Win Bischoff to leave early from chairmanship of Citigroup", "Citi Chairman Is Said to Have Planned Chief's Exit Over Months (Published 2012)", "Richard Parsons resigns as CBS chairman due to complications from cancer", "Richard Parsons to Become Chairman of Rockefeller Foundation", "Richard D. Parsons The Rockefeller Foundation", Partnership Members Assist Spitzer Transition Team, "Time Warner Chairman Richard Parsons Says He Won't Run for Mayor New York Magazine", "Ex-Time Warner chairman named interim Clippers CEO", "Love tangle for power broker: Citigroup's Richard Parsons has love child with model MacDella Cooper", "How Time Warner's Former CEO Is Helping Democratize Cancer Research", "Richard Parsons Steps Down as Interim Chairman of CBS", https://en.wikipedia.org/w/index.php?title=Richard_Parsons_(businessman)&oldid=1138654142, This page was last edited on 10 February 2023, at 21:13. "I always knew I'd rise to the top; it never occurred to me that I couldn't.". Graduated from Princeton University in 2006 . After New Mexico Governor Bill Richardson withdrew his name from consideration for the position of Secretary of Commerce in the Obama Administration, Parsons's name was floated as a possible nominee. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. In 2003, Parsons announced the name change from AOL Time Warner to Time Warner. Value is associated with hard work.. Notable Black American Men, Book II. Some considered the Parsons appointment at Time Warner to be a significant achievement for black executives, one that helps pave the way for them to enter the highest positions in business. Training And Servicing Center. After Giuliani was elected, he named Parsons to be head of his transition council. Member of the board of directors of Dime Savings Bank, Federal National Mortgage Association, Philip Morris Companies, Time Warner Inc., New York Zoological Society, and American Television & Communications Inc.; trustee of Rockefeller Brothers Fund, Howard University, and Metropolitan Museum of Art. Among his clients were such high-profile figures as Happy Rockefeller and the cosmetics queen Estee Lauder. His tactics paid off, and in just a few years, Parsons had reduced the amount of the Dime's bad debts from $1 billion to $335 million. By the mid-1970s Parsons was noted as a rising star among black professionals, and he was profiled in Black Enterprises Under 30 & Moving Up series in 1975. Parsons, who owns a home on Block Island, is a child psychologist. After graduation, he attended college at the University of Hawaii, where he excelled both academically and socially; Parsons was a varsity basketball player and the social chairman of his fraternity. In addition, the appointment positioned him second in command over the Time Warner holdings in magazine and book publishing, music, film, entertainment, theme parks, and cable television. "Parsons the Man: Public Service as Much as Private Sector Success Define AOL Time Warner's New CEO." 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. https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard, "Parsons, Richard . During his 11 years at the firm, Parsons took on Margaretta Rockefeller, the widow of Nelson (who had died in 1979), as a high-profile client. Served as assistant counsel to Governor Nelson Rockefeller, Albany, NY, 197174; called to the New York State Bar, 1972; appointed deputy counsel to the vice president, Washington, DC, 1975; general counsel and associate director of the White House Domestic Council, 197577; Patterson, Belknap, Webb & Tyler (law firm), New York, NY, attorney, 197788, became partner, 1979; Dime Savings Bank of New York (became Dime Bancorp, 1995), New York, NY, chief operating officer, 198890, chairman and chief executive officer, 199095; named head of mayor-elect transition council, New York, NY, 1993; served as chairman of New York Citys Economic Development Corporation; Time Warner Inc., New York, NY, president, 1995 Member of presidential Drug Task Force; chairman, Wildcat Service Organization. (her sister, Ashley, graduated from Kincaid in 2007). It is like air. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. Meanwhile, he answered complaints from colleagues at the Dime that he was deserting them. McClellan, Steve. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. "Reeling Like a Bad Movie: AOL Time Warner." Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. Its a venue to which I could see myself returning at some point in time, he told the New York Times in 1994, referring to public service as the highest calling, large and important work.. In his 11 years with the firm, he made his mark in both corporate law and civil litigation. J. Bruce Llewellyns career history might be viewed as a virtual microcosm of twentieth-century minority, Attorney, broadcasting executive, elected official Parsons took on the role of co-COO, sharing the job with Robert Pittman (1953), former president of AOL. View Laura C Parsons results including current phone number, address, relatives, background check report, and property record with Whitepages. Parsons was chosen by Mayor Giuliani to head the Transition Council and later in 1993 to be the deputy mayor for economic development. In addition, Parsons states that his rules for success include believing in yourself, acquiring necessary skills, and outworking the next guy. Under President Gerald Ford, Parsons became a senior White House aide and served as a general counsel and an associate director of the Domestic Council. Black Enterprise, October 1994, pp. Ed Decker and Christine Miner Minderovic. Parsons credits his experiences at the University of Hawaii as preparation for his future in corporate America. Isidore, Chris. Born into a family of humble means in the Bedford-Stuyvesant section of Brooklyn, New York, and raised in Queens, New York, Parsons revealed an inherent intelligence but had few aspirations as a youth. The announcement surprised many media watchers who expected chief operating officer Robert Pittman to take the helm. Thanks in part to such associations Parsons became what he frequently describes as a Rockefeller Republican, a person who is conservative when it comes to economic matters, and more liberal concerning social issues. Governor Rockefeller rewarded Parsonss solid performance by keeping him on his staff when he became vice president under President Gerald Ford in 1974. Levin had been in negotiations with Steve Case (1958), AOL's CEO, for several years. I have other things I'm focused on." [9], Parsons was chairman of Citigroup from February 23, 2009[12] until April 2012 when he was replaced by Michael O'Neill. In Contemporary Black Biography. Vol. According toEbony, Parsons said that the woman I was dating [Bush] told me, You like to argue so much you ought to become a lawyer and get paid for it., At Union University of the University of Albany Law School, Parsons helped pay his way through school by working part-time as a janitor and later as an aide in the State Assembly. He was involved in sports at the University of Hawaii; the six-foot-four-inch Parsons played basketball, was the social chairman of his fraternity, but was unenthusiastic about academics. According to Ebony, Parsons said that the woman I was dating [Bush] told me, You like to argue so much you ought to become a lawyer and get paid for it.. I know the bank is in good hands.. [24], Parsons was a member of the economic advisory team for President Barack Obama. Laura Bush petunia at President George Bushs Crawford Ranch Parsons served with the Domestic Council until the end of the Ford administration and returned to New York to work for Governor Nelson Rockefeller. She has been featured on the covers of Vogue and Vanity Fair and has frequently modelled for Tommy Hilfiger, as well as for Abercrombie & Fitch and designers Gai Mattiolo and Isaac Mizrahi. Parsons also inherited a number of problems when he assumed his new post in January of 1995. "AOL Time Warner Still Fixing Holes." He graduated high school at the age of 16, then devoted much of his attention to sports as a student at the University of Hawaii. Parsons worked part-time as a janitor to pay his way through the University of Albany Law School in New York, and when he graduated in 1971, it was at the top of his class. In 1993 Parsons was criticized by other blacks for supporting Rudolph Giuliani in the New York City mayoral race, instead of the incumbent Democrat, black mayor David Dinkins. Former First Lady Laura Bush told TV host Kelly Clarkson that she was "very surprised" to find out her husband, former President George W. Bush, was taking up painting as his . [4][27], In 2009, he had a child with model-philanthropist MacDella Cooper as a result of an extra-marital affair. As he told Cohen, "Ideally, you want to underpromise and overdeliver. [7] After four years, he was seven credits short of his diploma. In Washington, the young lawyer also worked directly with President Gerald Ford (1913), first as general counsel and then as an associate director of the domestic council. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. She said I needed the change., Parsonss appointment made him the first black to manage a lending company the size of Dime Savings Bank. Encyclopedia.com. There are a number of other black executives who have elevated positions in corporate America, said Parsons inBlack Enterprise.The process is rolling forward, even if it isnt moving as fast as some of us would like. Despite his distinction as a high-ranking black in business, Parsons downplays the racial aspects of his success. Parsons also worked on the transition team for Michael Bloomberg, who was elected Mayor of New York City in 2001. An article in Business Week Online stated that after accepting the Time Warner presidency, "Parsons gradually made himself indispensable to Time Warner by taking on tough assignments that the increasingly insular Levin could not do himself." window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; In mid-2003, he sold off parts of the company that were considered to be noncore assets, including the sports teams, the Atlanta Hawks and Atlanta Thrashers. Whether he remains with Time Warner or runs for public office, or goes in a totally different direction, Parsons will continue to be a role model in the African American community. His journey to future success was given some impetus by his girlfriend at the time, Laura Bush, who became his wife in 1968. The biggest boost came from the film division, which had experienced an enormous success because of the Harry Potter and The Lord of the Rings series. ." Get our quarterly newsletter to stay up-to-date, plus all speech or video narrative bookings near you as they happen. "Parsons, Richard In his 11 years with the firm, he made his mark in both corporate law and civil litigation. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/african-american-focus/news-wires-white-papers-and-books/parsons-richard. [27], In 2015, Parsons was diagnosed with multiple myeloma, a rare form of blood cancer. He also expanded his web of connections, taking on such high-profile clients as Happy Rockefeller (1926), the widow of Nelson Rockefeller, and cosmetics giant Este Lauder. Los Angeles Times, January 13, 2001, p. C1; December 6, 2001, p. C1. In 2001, George W. Bush selected Parsons to co-chair a commission on Social Security. . Parsons credits his father with teaching him to concentrate on achievement rather than dwell on race. Growing up in the Bedford-Stuyvesant area of Brooklyn, Parsons's father, Lorenzo Locklair Parsons, was an electrical technician and his mother, Isabelle (ne Judd), was a homemaker. Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. Encyclopedia.com. When departing Deputy Attorney General Harold R. Tyler, Jr., became a partner at a well-established New York City law firm in 1977, he asked Parsons to come on board. Peter J. Parsons and his wife Laura own a vineyard in Montalcino, Italy. In doing so, he became the first African American to head a lending institution of such proportion. Team for the incoming governor of New York City in 2001 person=RP ( Accessed 2 December 2005 ) a! S side when she married her husband, henry Hager, in the banking.... ; it never occurred to me that I laura bush parsons n't. `` were connections he made... 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In yourself, acquiring necessary skills, and outworking the next guy deserting them of other black executives who elevated... Three children were born ( Gregory, Leslie, and outworking the next guy Parsons is to...