In 2001, after AOL used its fortunes as the leading provider of Internet access in the U.S. to buy Time Warner for $106 billion in stock, Parsons became co-chief operating officer with AOL executive Robert Pittman. In that role, he was in charge of the company’s content businesses, including movie studios and recorded music.

Richard Parsons, one of corporate America’s most prominent Black executives who held top posts at Time Warner and Citigroup, has died

He was one of the preeminent Black executives of his generation, steering media and financial institutions through moments of boardroom and market turbulence.