Richard Dean Parson

By: Errol I. Mars
Born: April 4, 1948, Brooklyn, NY; Position: Co-founder and Partner; Company: Imagination Capital; Industry: Venture Capital; Country: United States

Richard D. Parsons is currently Co-founder and Partner at Imagination Capital and a senior advisor to Providence Equity Partners.

Most recently, Mr. Parsons served as the interim CEO of the Los Angeles Clippers basketball team.

Mr. Parsons is the former Chairman of the Board of Citigroup Inc. (Citigroup), the 8th largest company in the U.S. at the time. Parsons became chairman of Citigroup on February 23, 2009.

Prior to joining Citi, Mr. Parsons served in the positions of President, Chief Executive Officer and Chairman at Time Warner, whose businesses include filmed entertainment, interactive services, television networks, cable systems and publishing. From May 2002 to December 2007, Mr. Parsons served as Time Warner's Chief Executive Officer. He became Chairman of the Board in May 2003.

As CEO, Mr. Parsons led Time Warner's turnaround and set the company on a solid path toward achieving sustainable growth. In the process, he put in place the industry's most experienced and successful management team, strengthened the company's balance sheet and simplified its corporate structure, and carried out a disciplined approach to realigning the company's portfolio of assets to improve returns. In its January 2005 report on America's Best CEOs, Institutional Investor magazine named Mr. Parsons the top CEO in the entertainment industry.

Before becoming CEO, Mr. Parsons served as the company's Co-Chief Operating Officer, overseeing its content businesses-Warner Bros., New Line Cinema, Warner Music Group and Time Warner Book Group-as well as two key corporate functions: Legal and People Development.

Mr. Parsons joined Time Warner as its President in February 1995, and has been a member of the company's Board of Directors since January 1991. As President, he oversaw the company's filmed entertainment and music businesses, and all corporate staff functions, including financial activities, legal affairs, public affairs and administration.

Before joining Time Warner, Mr. Parsons was Chairman and Chief Executive Officer of Dime Bancorp, Inc., one of the largest thrift institutions in the United States. Previously, he was the managing partner of the New York law firm Patterson, Belknap, Webb & Tyler. Prior to that, he held various positions in state and federal government, as counsel for Nelson Rockefeller and as a senior White House aide under President Gerald Ford. Mr. Parsons received his undergraduate education at the University of Hawaii and his legal training at Union University's Albany Law School.

Mr. Parsons is currently a director of Estée Lauder Companies, Lazard Freres and The Madison Square Garden Company, and is chairman of the Apollo Theatre Foundation.

Mr. Parsons received a Juris Doctor from Union University's Albany Law School and his undergraduate education from the University of Hawaii.


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