Former Time Warner chief named interim CEO of Los Angeles Clippers
Credit: Reuters/Shannon Stapleton
Richard Parsons, the former chairman of Citigroup and former chairman and CEO of Time Warner, poses in New York, December 18, 2013.
Parson's appointment comes three days after the league announced an indefinite leave of absence for the top lieutenant of the Clippers' owner, Donald Sterling. Sterling was banned from pro basketball over racist comments made public last month and faces an attempt by the league to strip him of his team.
Parsons, a senior consultant at the investment firm Providence Equity Partners and one-time member of President Barack Obama's economic advisory team, is one of a relative few African-Americans to have headed major U.S. corporations.
He joined Time Warner in 1995 as president of the media conglomerate and was chairman and CEO there from 2002 until 2008. He later served as chairman of Citigroup until stepping down from that post in 2012.
'I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization,' NBA Commissioner Adam Silver said.
(Reporting by Steve Gorman; Additional reporting by Larry Fine in New York; Editing by Cynthia Johnston and Ken Wills)
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