[3], Parsons was born to an African-American family in Brooklyn, New York City, on April 4, 1948. [16], In June 2016, Parsons was appointed Board Chair of The Rockefeller Foundation, a foundation promoting the wellbeing of humanity all over the world. 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. Birthday: April 4, 1948 ( Aries) Born In: New York, New York, United States 1 0 Bankers #114 CEOs #466 Business People #1921 Quick Facts Also Known As: Richard Dean Parsons, Dick Parsons Age: 74 Years, 74 Year Old Males Family: Spouse/Ex-: Laura Bush Parsons children: Gregory Allen Parsons CEOs Bankers Height: 6'4" (193 cm ), 6'4" Males Though he went into remission after Stem-cell therapy, complications in 2018 caused him to step down from his role as Interim Chairman of the Board of CBS. In 2004, he was awarded the Better Chance Corporate Award, an annual honor bestowed by the organization A Better Chance, which, according to Hispanic PRWire, "identifies, recruits, and develops leaders among academically gifted students of color." According to Better Chance president Sandra Timmons, as quoted by Hispanic PRWire, "Richard Parsons serves as a role model for aspiring executives of all races, but his success has earned him a special leadership role among African Americans.". He was born on April 4, 1948, in the Bedford-Stuyvesant section of Brooklyn, New York, and was raised in the New York borough of Queens. Kathleen Ryan served as an assistant to Parsons for a few weeks after she joined the Domestic Council in April, 1975. Time Warners record division was experiencing difficulty, and company officials were suspicious about the designs of Edgar Bronfman of the Seagram Companies, which owned 15 percent of the companys stock. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. 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). A 2001 merger between Internet icon America Online (AOL) and Time Warner, a leader in the entertainment industry, had proven to be a failed experiment. Left to my own devices, I dont feel any compulsion to strive, he told the New York Times in 1990. [13] He is chairman of the advisory board of Feigen Advisors, a CEO advisory firm run by Marc Feigen. Although Levin was effectively in charge, it was Parsons who consistently took on the tough assignments and it was Parsons who employees turned to for guidance. Assistance League Of Chicagoland West: December 2013 alcw95.blogspot.com. The bank had suffered a series of losses due to the drastic devaluation of New York City real estate in the late 1980s, and during the previous year it had lost $92.3 million. Dawn Bennett-Alexander assisted Parsons from March 1976 until the end of the administration. His 43 . [6] He later attended the University of Hawaii at Manoa, where at 6'4" tall he may have played varsity basketball. Parsons and his wife Laura own a vineyard in Montalcino, Italy. window.__mirage2 = {petok:"Olb1PN4AOYQxfgUm1EldB37uVPcj4uBa8eBE3X8k2lQ-86400-0"}; Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. He also met a deputy attorney general, Harold R. Tyler, and one of his aides, a young Rudolph W. Giuliani, with whom he was to be closely associated supporting him in his campaign for New York mayor and heading his transitional council.[8]. NEW YORK, NY - FEBRUARY 18: L to R: Stephen Byrd and Jessye Norman, Laura Bush Parsons and Richard Parsons attend Apollo Club Harlem at The Apollo Theater on February 18, 2013 in New York City. Parsons, who owns a home on Block Island, is a child psychologist. "Richard Parsons: Profile." in history from the University of Hawaii in 1968. https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948, Decker, Ed "Parsons, Richard Dean 1948 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. Former President George W. Bush and Laura Bush's daughter Barbara Bush gave birth to her first baby with husband Craig Coyne on Monday By Mary Park Published on September 29, 2021 11:42 AM 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. 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. In the latter post, Parsons focused on drug issues. 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. Observer, (London, England) December 9, 2001, p. 4. Vol. He is a Black business executive and lawyer. 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. Richard Dean "Dick" Parsons was born in Brooklyn, New York. CNNMoney.com. 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. The merger was made official in 2001, when AOL purchased Time Warner for a reported $168 billion. Peter J. By the end of 1999, it was certified as a Texas Superstar which means it will show superior performance under Texas tough growing conditions in the Earth-Kind landscape. Some predicted a future in politics for Parsons. According to Bush, it was the most logical decision since Parsons enjoyed arguing so much. In the Washington Post, Levin called Parsons an exceptional business leader with the broad experience, financial acumen and the knowledge of our business that will strengthen and solidify our corporate management., Parsons accepted the presidency for a reported salary of several million dollars a year. From March 1975 to January 1976, Parsons was assisted in his duties by Lyn May, who had worked for Geoffrey Shepard. Standing at 6 feet 4 inches, with broad shoulders, he is a physically impressive man who could fill any boardroom. President Ford also used his services, first as a general. This opportunity with Time Warner is a once in a lifetime one. Lloyd, Fonda Marie, and Mark Lowery. "Reeling Like a Bad Movie: AOL Time Warner." [6] He skipped a grade in elementary school and another in high school. He paid his law school expenses by working as a part time janitor and later as an aide in the New York State Assembly. 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. Barbara Pierce Bush, daughter of former President George W. Bush and former First Lady Laura Bush, welcomed daughter Cora Georgia in September 2021 with husband Craig Coyne. He was also in charge of the legal department and human resources. Value is associated with hard work.. Many, however, questioned the appointment since Parsons had no real experience in the banking industry. Parsons was a member of the economic advisory team for President Barack Obama in 2008. In 1988, he was recruited to serve as a chief operating officer of the Dime Savings Bank of New York. "Can a Nice Guy Run This Thing?" Parsons later lived in a guesthouse on the estate. On October 1, 1995, Parsons was appointed president of Time Warner with a salary of several million dollars per year. Cohen, Adam. 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. . degree from Union University's Albany Law School in 1971. Although Richard Dean Parsons regularly makes Fortune magazine's annual list of the most powerful people in business, and he is considered to be one of the most respected African American executives in the country, he came from an average working-class background. He has claimed that race was never a defining character in his life. In this case, Parsons was forced to tap into both sides of his personality. The proud parents were by Jenna's side when she married her husband, Henry Hager, in. Editorial #: Eds. Certain corporations come to bear the impress of a sin, 19082007 . "Time Warner's Chairman and CEO Richard D. Parsons Honored by a Better Chance." Lauren Bush in New York Bush was signed with Elite Model Management before launching FEED. Business executive In 2007, he became the chairman of the board of directors of the Jazz Foundation of America. In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. Laura Bush Remembers the First Time She Met George and When He Proposed "I knew George was going to ask," the former first lady told The Wall Street Journal. ." And most The drag on the company continued to be AOL, which consistently floundered. Hayden, Thomas. Zone Development Corporation, which was established to spur the development of business and the growth of job opportunities in Harlem. Dl, D6. Parsons assumed his post as president of Time Warner in January of 1995, a job that came with a reported multi-million dollar salary. At the same time people speculated about what role Parsons would play in Time Warner's future. Parsons was accepted by Albany Law School of Union University, New York, where he earned a Juris Doctor in 1971, finishing at the top of his class. ", Analysts wondered about the future of AOL even as Parsons continued to play peacemaker, overseeing Monday morning meetings with his various managers and promising harmony between teams. They credit him with keeping employees informed every step of the way, producing videos for employee distribution. Then, they dont value it. Hispanic PRWire (June 11, 2004) http://www.hispanicprwire.com/news_in.php?id=2478&cha=6&PHPSESSID (accessed on July 31, 2004). Former President George W. Bush and his wife, Laura Bush, recently celebrated their 45th wedding anniversary. 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. 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. They have three grown children: Gregory, Leslie, and Rebecca. 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