In his 11 years with the firm, he made his mark in both corporate law and civil litigation. 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. After attaining her master's degree in library science at the University of Texas at Austin, she was employed as a librarian. Business Week Online.http://www.buisnessweek.com/magazine/content/03_20/b3833001_m2001.htm (Accessed 2 December 2005). Just twenty-three years old, and fresh out of law school, Parsons landed a job as an aide on the legal staff of Nelson Rockefeller (19081979), the governor of New York. Richard Parsons has become one of the most prominent figures in American business, without rising through the usual ranks required to reach a high-level corporate position. After graduation, he attended college at the University of Hawaii, where he excelled both academically and socially; Parsons was a varsity basketball player and the social chairman of his fraternity. . Get our quarterly newsletter to stay up-to-date, plus all speech or video narrative bookings near you as they happen. Its a statement by and to corporate America that there are no more areas where African Americans havent succeeded, he told the New York Times in 1990. In 1977, Parsons returned to New York and became a partner after only two years at the Patterson Belknap Webb & Tyler law firm; also working at the firm was Giuliani. Landler, Mark "Watch Your Back, Mr. Parsons" Business Week (14 November 1994): 38-39. Parsons was urged by Harry Albright Jr. to become the chief operating officer of the Dime Savings Bank in 1988 with a salary of $525,000 annually. With a calm, cool-headed resolve, he doggedly tackled the problems that lay ahead. While in Hawaii, he also met his future wife, Laura Bush. Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Encyclopedia.com. His maternal grandfather had been head groundskeeper at the John D. Rockefeler estate, Kykuit. 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. Bianco, Anthony, and Tom Lowry. [30][31], Last edited on 10 February 2023, at 21:13, Donald Sterling racial remarks controversy, "Time Warner Confirms Parsons Stepping Down", "UH alumnus replacing Les Moonves as interim chairman of CBS", "Parsons Resigns From CBS Board due to Health Reasons: Dick Parsons resigns from CBS board, Strauss Zelnick steps into role of interim chairman", "Citigroup Chairman Richard Parsons TIME", "Did New Clippers CEO Dick Parsons Really Play College Basketball? Lloyd, Fonda Marie, and Mark Lowery. Then, they dont value it. 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." He also set out to streamline the bank's operations. He frequently downplays race as a factor or handicap in his success. Parsons remained optimistic, but he proceeded cautiously. In 1977, Parsons in New York, a partner at the Patterson Belknap Webb & Tyler law firm. In 2001, United States President George W. Bush selected Parsons to co-chair a commission on Social Security. Richard D. Parsons, Counsel and Associate Director for Justice, Civil Rights, Drugs and Consumer Affairs: Files, 197477. In 1993 Parsons was criticized by other blacks for supporting Rudolph Giuliani in the New York City mayoral race, instead of the incumbent Democrat, black mayor David Dinkins. 1946 Facebook gives people the power to. He served as assistant counsel to Governor Rockefeller from 1971 to 1974 and was called to the New York State bar in 1972. Parsons skipped two grades and graduated from high school at the age of sixteen. 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. Apparently it was the right decision. Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/general/culture-magazines/parsons-richard. In addition to his work for Rockefeller and the Ford administration, the lawyer-turned-banker-turned media executive served in various political roles throughout his career. Broadcasting & Cable (July 28, 2003): p. 8. Some top officials at the bank questioned his appointment, both because of his lack of experience in the banking industry and his previous work in government that made him likely to leave the company for the political arena. He also met a young Rudolph W. Giuliani, with whom he supported in his campaign for New York mayor and heading his transitional council. Colleagues say Parsons management style helped smooth the painful layoffs that he had to make, wrote Fonda Marie Lloyd and Mark Lowery in Black Enterprise.They credit him with keeping employees informed every step of the way, at one point even producing several videos that were distributed to employees. When Albright departed the Dime, Parsons became chairman and CEO. 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 Parsons began working at Dime during a difficult period. In the latter post, Parsons focused on drug issues. He paid his law school expenses by working as a part time janitor and later as an aide in the New York State Assembly. They have three grown children: Gregory, Leslie and Rebecca. In 2001, George W. Bush selected Parsons to co-chair a commission on Social Security. Parsons is due to mark his 31st wedding anniversary with his wife, the former Laura Ann Bush, in August. 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. Restrictions: Contact your local office for all commercial or promotional uses. Parsons was chosen by Mayor Giuliani to head the Transition Council and later in 1993 to be the deputy mayor for economic development. Here, the little . Retrieved February 23, 2023 from Encyclopedia.com: https://www.encyclopedia.com/education/news-wires-white-papers-and-books/parsons-richard-dean-1948. On May 16, 2001, Parsons replaced Gerald Levin as CEO of the AOL-Time Warner Corporation. Washington Post, November 1, 1994, p. D5. Decker, Ed; Minderovic, Christine "Parsons, Richard Dean 1948 Richard Dean Parsons (born April 4, 1948), an American business executive, is the former chairman of Citigroup and the former chairman and CEO of Time Warner. In the May 1975 reorganization, his area of responsibility was divided, and Parsons became associate director for justice, crime, civil rights, and communications (communications was transferred to F. Lynn May in January of 1976). Ed. Over the years Parsons has, however, admitted the possibility of entering politics later in life. 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. In contrast, he embraced the Rockefeller Republicans' philosophy of equipping a group with skills so they can achieve what they need on their own. However, he discovered that he could get into a law school in New York without a college degree if he scored well enough on his pre-law exams. [27][28][29] Being of Liberian ethnicity, Cooper founded the MacDella Cooper Foundation in 2004 to help orphans and abandoned children in Liberia following the Second Liberian Civil War. Encyclopedia.com. In 2006, Parsons was selected to co-chair the transition team for the incoming Governor of New York, Eliot Spitzer. As he once told the New York Times, as reported by CNNMoney.com, "For a lot of people race is a defining issue. UXL Newsmakers. When Robert Pittman stepped down as COO in June of 2002, Parsons quickly reorganized the company's top ranks by promoting some of Time Warner's former division chiefs. "He intellectualizes outcomes and gets people to agree with his outcomes." Encyclopedia.com. (February 23, 2023). In a December 2001 press conference, Levin stunned the industry when he named Parsons as AOL Time Warner's next CEO. Parsons became chairman emeritus of the Partnership for New York City,[19] established by David Rockefeller in 1979,[20] who has known him for many years. As he told Ebony, I have never missed a single day of work in my life. The drag on the company continued to be AOL, which consistently floundered. Thanks in part to such associations Parsons became what he frequently describes as a Rockefeller Republican, a person who is conservative when it comes to economic matters, and more liberal concerning social issues. It was either you go for it, or its gone forever, claimed Parsons mBlack Enterprise.Its not a bad time for me to make a move. Some top officials at the bank questioned his appointment, both because of his lack of experience in the banking industry and his previous work in government that made him likely to leave the company for the political arena. Over the years Parsons has, however, admitted the possibility of entering politics later in life. By the mid-1970s Parsons was noted as a rising star among black professionals, and he was profiled inBlack Enterprises Under 30 & Moving Up series in 1975. "Parsons Faces Major Test in Unifying AOL Time Warner." "Honorary Degrees Conferred by the University of Hawaii." ." Parsons had no clear idea what direction to take after college, but at the prompting of Laura, he decided to go to law school. Since the first marketing of Laura Bush, Dr. Parsons has selected and produced a pink version of the original bright violet-pink hue, known as Pink Laura Bush. The bank suffered many losses due to New York City real estate devaluation in the 1980s and during the previous year had lost $92.3 million. UXL Newsmakers. He was one of five children. Encyclopedia.com. During his 11 years at the firm Parsons took on Happy Rockefeller, the widow of Nelson (who had died in 1979) as a high-profile client. In 1988, just when it seemed that Parsons was poised to become head of his law firm, the news was announced that he had accepted the position of chief operating officer (COO) of the Dime. http://www.ford.utexas.edu/library/GUIDES/Finding%20Aids/Parsons,%20Richard%20%20Files (Accessed 7 December 2005). His involvement with Time Warner resulted in his developing close ties with important company executives such as Robert W. Morgado, the chairman of the Warner Music Group, and Michael J. Fuchs, chairman of HBO. Parsons later became chairman and CEO[8] and oversaw a merger with Anchor Savings Bank, gaining a substantial sum when the Dime Bank was demutualized. Although Parsons refused that position, he consented to work as chairman of the citys Economic Development Corporation. They have three grown children. [26], In 1968, Parsons married Laura Ann Bush, a community activist with a doctorate in child psychology, who he met at the University of Hawaii. L. Mpho Mabunda and Shirelle Phelps. The 'Laura Bush' Petunia was immediately submitted to extensive field testing in four regions of the state. Wall Street Journal, May 8, 1990, p. BIO; January 30, 1995, pp. Parsons, who owns a home on Block Island, is a child psychologist. Born April 4, 1948 in Brooklyn, NY; son of Lorenzo tocklair (an airline technician) and Isabelle (a homemaker; maiden name, Judd) Parsons; married Laura Ann Bush, August 30, 1968; children: Gregory, Leslie, Rebecca Education: Graduated from University of Hawaii, 1968; Union University, University of Albany Law School J.D., 1971. Time (December 17, 2001). [14], In September 2018, Parsons became the Interim Chairman of the Board for CBS, replacing Les Moonves. AOL Time Warner's various operating units were still far from achieving a full integration. He has claimed that race was never a defining character in his life. You as they happen race was never a defining character in his life as AOL Time.! Warner Corporation 's operations therefore, be sure to refer to those guidelines editing. Both corporate law and civil litigation on May 16, 2001, W.! 1, 1994, p. BIO ; January 30, 1995,.. The AOL-Time Warner Corporation his career Bush, in August I have missed! 1994, p. 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