Having Left His Mark, Black CEO Wants AOL On Firm Footing
RICHARD PARSONS said Thursday he's "getting close" to relinquishing his roles as Chairman and CEO to the powerhouse known as Time Warner.
'Exhibit A' to legions of African-American folks still trying to get their corporate groove on, a candid Parsons said he's near to completing his five year plan and expects to step down within the next year or two.
"We're getting close," he said, suggesting he won't sign another contract with the company when his current deal expires next year.
Parsons said before leaving he would like to ensure that AOL is on a steady growth path and that Time Warner Cable meets the "challenges" of integrating its new acquisitions. The liberal Republican lawyer turned businessman added that the Time Inc. unit is "well on the road to the digital transition in publishing."
When Parsons took the job, after Gerald Levin was forced out following a disastrous merger with AOL, he had modest goals. He said he wanted "to leave this company in good shape and in good hands, and that's still sort of where I am."He said he's achieved that end, but he'd like to iron out AOL, TWC and publishing issues.
But the future of AOL and the Time Inc. publications are likely to remain uncertain due to market conditions. The cable unit, where a portion recently went public, is seen as being strong and will likely continue to acquire more systems.
While Parsons, 59, said that may not happen during his tenure, he would like to make certain that TWC successfully blends systems acquired from Adelphia and Comcast into its operations. "You want to make sure cable is hitting on all eight cylinders," he said.
When Parsons does leave, he'll likely be credited with having righted a wayward ship--or having done what he could. The cable unit is prospering with the advent of the "triple play," in which it offers a bundle of TV, phone and Internet services.
Parson's rise is just another example of what Black folks can do when we focus on excellence. Bravo brotherman!
Original story by David Goetzl