Richard Parsons, a prominent Black executive in corporate America, passed away at the age of 76 at his Manhattan home. He had been battling multiple myeloma since 2015, and his death was confirmed by the financial services company Lazard, where he was a longtime board member.
Parsons, known for his leadership roles at Time Warner and Citigroup, was praised for his business acumen and ability to navigate companies through challenging times. He played a key role in restoring Citigroup to profitability after the global financial crisis and in revitalizing Time Warner following its acquisition by AOL.
Throughout his career, Parsons was recognized for his negotiation skills, diplomacy, and crisis management abilities. He was respected for his integrity and kindness, qualities that he combined with strong leadership to achieve success in the business world.
Parsons' legacy extends beyond his corporate achievements. He was involved in various philanthropic endeavors, serving as Chairman of the Apollo Theater and the Jazz Foundation of America, and holding positions on the boards of cultural institutions like the Smithsonian National Museum of African American History and Culture.
His passion for jazz led him to co-own a Harlem jazz club, showcasing his diverse interests and contributions to the arts and culture scene. Parsons also had a background in politics, having worked for prominent political figures like Nelson Rockefeller and Gerald Ford.
Parsons' impact on the media industry was significant, with his tenure at Time Warner and Citigroup leaving a lasting impression on those who worked with him. His dedication to excellence, coupled with his commitment to mentorship and problem-solving, earned him admiration from colleagues and industry peers.
Richard Parsons leaves behind a legacy of leadership, integrity, and service to both the business world and the community. His contributions will be remembered by those whose lives he touched and the institutions he helped shape.
