Parsons’ is out but remains Chairman
For those that have not heard yet yesterday news broke that Richard Parsons, who up until yesterday was CEO of Time Warner, was stepping down. Jeff Bewkes will be replacing him however Parsons will remain Chariman of the company. Parsons did release this statement:
“Jeff is a well-respected business executive both inside and outside the company. His results-oriented management style and deep industry knowledge will be invaluable as he drives growth at Time Warner,” Parsons said of his replacement. “Throughout his career, Jeff has demonstrated the capacity to generate industry-leading performances at our businesses, whether measured in terms of financial, operational or creative successes. We have had a terrific working partnership, and I am proud of what we accomplished together.”
There are some nice and quick reads on Portfolio and CNET News. ON another note earlier this year Portfolio had an interesting 4 part video interview with Parsons.
Category: News
About the Author Angela Benton is the Founder and Publisher of BlackWeb20.com. Her experience spans a variety of industries including consultative relationships with companies such as UPS, Bizjournals.com, Realestate.com, and Lendingtree.com.
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This move was in the making for some time. Parson’s has done all he can for TW, and done it well. The AOL issue could have been a lot worse. He stayed on board and steadied the ship. Now it’s time for a new adventure. Wish him the best of luck!
Mr. Parsons has been my media industry hero. I am sorry to see him go as CEO. This is all Steve Case’s fault.