Richard Parsons Becomes Chairman of the Board at CBS Board After Departure of Les Moonves

CNBC's 'Squawk Box' team discusses CBS's interim chairman after former CEO Les Moonves left the CBS board amid sexual misconduct claims. (YouTube.com Screen capture)
CNBC's 'Squawk Box' team discusses CBS's interim chairman after former CEO Les Moonves left the CBS board amid sexual misconduct claims.

By Lauren Victoria Burke, NNPA Newswire Contributor

Businessman Richard Parsons, 70, is now the interim Chairman of the Board at CBS after the departure of longtime Chair Les Moonves.

Parsons will become one of very few African Americans who are on the Board of a Fortune 500 company.

Moonves resigned in scandal as Chairman of the Board and CEO on September 9 after the New Yorker magazine revealed multiple allegations he sexually harassed women while working at CBS. News of Moonves possibly receiving a large severance package of over $240 million from CBS appears to have prompted many women to come forward and speak with journalists at the New Yorker.

Parsons has held a series of high-profile positions. He served as the former chairman of Citigroup and the former chairman and CEO of Time Warner. He stepped down as CEO of Time Warner in December 2007 and was previously the interim CEO of the Los Angeles Clippers.

The newly configured CBS Board of Directors had their first meeting via teleconference on September 25. Parsons will lead the board at an uncertain time of transition at CBS. Four new members were also appointed to CBS’ Board along with Parsons.

“Dick Parsons has a combination of deep industry knowledge and unmatched corporate and board experience,” said Candace Beinecke, Chair of CBS’ Nominating and Governance Committee. “We are fortunate to have Dick in this leadership role.”

“We have a distinguished and independent Board that is steadfast in its commitment to serve the best interests of all shareholders,” said Parsons. “I think I speak for all Board members when I say I look forward to learning more about CBS’ compelling opportunities and how we can help guide and support the Company’s growth.”

Lauren Victoria Burke is an independent journalist and writer for NNPA as well as a political analyst and communications strategist. She may be contacted at LBurke007@gmail.com and on twitter at @LVBurke

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