Parsons, Citigroup chairman, steps down

By Kelsie Bonaparte
Contributing Writer

(Special to the NNPA from the New York Amsterdam News) —Citigroup Chairman Richard D. Parsons is rumored to have made the decision to step down after three years of hard work and making significant changes to the company.

Parsons, 63, has been Citigroup director since 1996 and became the chairman in 2009. He is best known for guiding Citigroup out of a terrible financial crisis. Also, he is well known for his responsible roles at Time Warner as chairman and chief executive.

PARSONS

As reported in WSJ.com “With Citigroup out of the woods, Mr. Parsons is said to want to focus on other interests. He is a senior adviser to Providence Equity Partners LLC, a private-equity firm that focuses on the media industry, and is a jazz aficionado.”

This article was originally published in the February 6, 2012 print edition of The Louisiana Weekly newspaper