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Time Warner's Parsons Steps Down

  • Reuters, Wednesday, March 25, 2009 10 AM
Former Time Warner chairman and CEO Richard Parsons will step down from the board by its next annual general meeting. Parsons, who has been on the Time Warner board since 1991, helped the company negotiate the difficult aftermath of its controversial merger with AOL in 2000.

As chief executive and later chairman, he also helped soothe activist investors, such as Carl Icahn, who were seeking to break up the company in a bid to boost value. Parsons stepped down as CEO in December 2007 and relinquished the role of chair last December.

As the recently appointed chairman of Citigroup, he has been busy helping Citi's management cope with the global credit crunch and face pressures from U.S. lawmakers.

Read the whole story at Reuters »

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