CNN —Dick Parsons, an American businessman who led Time Warner and helped iconic US companies navigate tough circumstances, has died at 76. A prominent Black business executive, Parsons was known for his problem-solving prowess, steering major companies, including Time Warner and Citigroup, through periods of distress. With Parsons as its CEO, Time Warner slashed its debt in roughly half as it ushered in a new era of sustainable growth. When Rockefeller became US vice president, Parsons moved to D.C. as a White House aide in President Gerald Ford’s administration. After moving back to New York, Parsons quickly rose the ranks at the law firm Patterson, Belknap, Webb & Tyler, eventually becoming partner.

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