AOL’s Levin to retire next year
AOL/Time Warner CEO Gerald M. Levin announced that Richard Parsons will succeed him upon retirement in May. Parsons has been co-chief operating officer of the merged AOL Time Warner since January 2000. Prior to that, he was president of Time Warner since 1995.
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Robert W. Pittman, Parsons’ co-chief operating officer will become the sole chief operating officer. Stephen M. Case will remain chairman of AOL Time Warner.
Considered an expert negotiator, Parsons is known for the large deals he’s negotiated for Time Warner and for overseeing the company’s content business, including Warner Music Group and Time Warner Trade Publishing.
In addition to his full time position at AOL Time Warner, Parsons is a Republican and a lawyer who currently serves as co-chair of President George W. Bush’s Commission to Strengthen Social Security. He also is chairman of the Upper Manhattan Empowerment Zone, an organization aimed toward reviving neighborhoods in New York.
--Amalia D. Parthenios
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© 2012 Penton Media Inc.
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