CBS Names Dick Parsons to Board
CBS Corp. has installed executive Dick Parsons as one of six new Board members who will help oversee the media company as it transitions to new leadership. The announcement came simultaneously with the departure of CBS’ longtime leader, Leslie Moonves, who resigned as CEO amid allegations of sexual harassment. Parsons stabilized Time Warner after its disastrous merger with AOL and then went on to become Chairman of Citigroup Inc. The 70-year-old Albany Law School graduate had been slated to be named to the board at the company’s next shareholders’ meeting, which has been postponed a few times in recent weeks with CBS in the midst of investigating Moonves. Parsons is Co-Founder and Partner of Imagination Capital, a venture capital firm launched in November. He also has been a Senior Advisor for private equity firm Providence Equity Partners since 2009 and was interim CEO of the Los Angeles Clippers basketball team for a few months in 2014. The Brooklyn native played an important role in identifying the new slate of CBS Directors over the last few weeks, with input from National Amusements’ Shari Redstone. The goal was to strengthen CBS’ Board with independent directors with broad expertise. Other new Board members include attorney Candace Beinecke; Barbara Byrne, former Vice Chairwoman of Barclays; Hasbro CEO Brian Goldner; Susan Schuman, who has helped companies -- including Viacom and Oprah Winfrey Network -- chart new transformation strategies; and Strauss Zelnick is a veteran movie-and-music industry executive who has extended his expertise into video games. More here.