Richard Parsons, University of Hawaiʻi Distinguished Alumnus and former board chair for Citigroup and Time Warner, has been named CBS Corporation’s interim chairman of the board of directors, the company announced on September 25. Parsons, who majored in history at UH Mānoa, was honored with a UH Distinguished Alumni Award in 1997 and a UH Honorary Doctor of Humane Letters in 2003.
“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” said Candace Beinecke, chair of CBS‘ nominating and governance committee. “We are fortunate to have Dick in this leadership role.”
Parsons, 70, is the former chairman of the board of directors of Citigroup Inc. and was on the economic advisory board for President Barack Obama’s transition team. He is the former chairman of the board and CEO of Time Warner Inc. and led its turnaround, setting the company on a path toward achieving sustainable growth. He also served as interim CEO of the Los Angeles Clippers for four months in 2014. Parsons received his undergraduate education at the UH Mānoa and his legal training at Union University’s Albany Law School.
Parsons spoke at UH about the importance of supporting higher education in 2009, when he was appointed the Dan and Maggie Inouye Chair in Democratic Ideals. This chair, held jointly in the William S. Richardson School of Law and the Department of American Studies, engages scholars and public figures dedicated to sharing their knowledge and experiences.
Parsons replaces Leslie Moonves, the longtime chief executive and board chair at CBS, after allegations of sexual harassment led to his departure.