News The Count
posted by November 6 at 10:13 AMon
Fair enough, this corporate boss is not black.
AS THE number of risky mortgage borrowers being turfed out of their homes escalates, so does the rate of Wall Street chief executives trudging dejectedly out of their corner offices. On Sunday November 4th Chuck Prince resigned as boss of America’s largest bank by assets, Citigroup. Less than a week earlier Stan O’Neal had been forced out as boss of Merrill Lynch.
But check out this one.
Time Warner named its president, Jeff Bewkes, as the next CEO to replace Dick Parsons.
Parsons, who has served in the post for five years, announced that he is stepping down Jan. 1, but will remain in the chairman’s post.
Parsons is one of a handful of African-American executives in this country. He was tasked with restoring the stature of the world’s largest media conglomerate.
He helped repair the damage from Time Warner’s merger with AOL seven years ago.