Richard Parsons
Richard Parsons
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Full Name and Common Aliases
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Full name: Richard Darryl Parsons
Common aliases: None notable.
Birth and Death Dates
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Born on April 4, 1941
Died on: Not applicable (still alive)
Nationality and Profession(s)
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Nationality: American
Profession(s): Business Executive, Attorney, Politician
Early Life and Background
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Richard Parsons was born in Philadelphia, Pennsylvania. His early life is not well-documented; however, it's known that he grew up with a strong interest in business and law.
Parsons earned his Bachelor of Science degree from the University of Pennsylvania in 1962. He then attended Harvard Law School, graduating with a Juris Doctor (J.D.) in 1965. Parsons began his career as an attorney at the large law firm, Cravath, Swaine & Moore.
Major Accomplishments
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Parsons' professional life spanned over five decades and included various leadership positions:
President of Time Warner: Parsons was appointed to this position in 2002. During his tenure, he played a crucial role in transforming the company into a global media conglomerate.
Chairman of Citigroup: Parsons served as chairman from 2008 to 2010, overseeing the bank's recovery efforts after the 2008 financial crisis.
Board Member and Advisor: Parsons has held various board positions across multiple industries, including Time Warner, Citigroup, Dime Community Bancshares, and more. He has also advised several government agencies.Notable Works or Actions
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Parsons' involvement in significant events includes:
The 2008 Financial Crisis: As chairman of Citigroup's board, Parsons played a key role in guiding the bank through one of the most critical periods in its history.
The FCC and Telecommunications Act of 1996: Parsons served as a member of the Federal Communications Commission (FCC) under President Bill Clinton. He supported the passage of the Telecommunications Act of 1996, which aimed to deregulate the telecommunications industry.Impact and Legacy
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Parsons' impact on business and politics is multifaceted:
Leadership in Crisis: Parsons demonstrated his ability to navigate companies through challenging times, particularly during his tenure at Citigroup.
Fostering Diversity: Throughout his career, Parsons has been an advocate for diversity and inclusion. He has championed the importance of diverse leadership and representation.Why They Are Widely Quoted or Remembered
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Parsons is widely quoted and remembered due to:
His Expertise in Business and Law: Parsons' unique blend of experience as a business executive, attorney, and politician makes him a respected authority on various subjects.
* Influence on Industry: His involvement in significant events and his impact on companies like Time Warner and Citigroup have left lasting legacies.
Quotes by Richard Parsons
The Chinese are doing everything they can to manage the message. They are opening up in their own time and at their own speed.
Combining the Warner-EMI roster and relationships with AOL's subscriber base and ease-of-use know-how, we will be able to lead the industry in the way this business develops,
I do think that when clouds roll in, it takes a while for them to roll out of the sky even though a lot of good work has been done underneath, ... We're optimistic that, given time and the right type of exposure, the Street will begin to see real value there.
Because the discussions are fluid, we don't know if they will result in any transaction or what form any transaction will take.
In my view, the real source of undervaluation is neither of these things, ... The real driver of enhanced value, I think, is going to be AOL in the short term and the long term.
This is a very exciting time for our company and the year is off to a great start,
