Richard Parsons, 'Captain Emergency,' Dies at 76

Richard Parsons, a renowned executive known as 'Captain Emergency' for stabilizing firms such as Time Warner, Citigroup, and the Dime Savings Bank, has died at age 76 from bone cancer at his home in Manhattan. Parsons was noted for his ability to lead companies through crises, including the dot-com bust and the 2008 financial crisis. He served as CEO of AOL Time Warner during its challenging merger period and later helped the company regain financial stability. Additionally, Parsons briefly chaired CBS Corp. in 2018 but resigned due to health issues. Beyond his corporate achievements, Parsons was a prominent Black executive who advocated for social justice and diversity, co-founding the Equity Alliance to support ventures led by women and people of color. His legacy includes a humane management style and significant contributions to both business and philanthropy.