USA Today

Why Richard Parsons, Former CEO of Time Warner and Interim Chairman of CBS, Has Resigned From the Network

Oct 22, 2018  •  Post A Comment

Veteran media executive Richard Parsons has stepped down from his position as interim chairman of CBS Corp., USA Today reports. Parsons reportedly resigned due to illness.

“Parsons became the interim chairman of CBS last month following the resignation of former Chairman and CEO Leslie Moonves, who stepped down amid multiple sexual misconduct allegations,” USA Today reports. “Facing complications from cancer, Parsons said in a statement that his doctors told him ‘cutting back on my current commitments is essential to my overall recovery.'”

The report notes that Strauss Zelnick, CEO and chairman of Take-Two Interactive Software Inc., is replacing Parsons, effective immediately.

“Parsons has been a notable leader in the business world for decades. As the chairman of Citigroup, he helped bring stability to the company following the 2008 recession,” USA Today notes. “He also helped Time Warner, for which he served as chairman and CEO, navigate its way through a merger with AOL. Additionally, he served as interim CEO in 2014 of the Los Angeles Clippers.”

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