Richard Parsons Steps Down As CBS Chairman

Media executive Richard D. Parsons was named interim chairman of CBS less than a month ago in an effort to push the company toward a better, more stable direction. However, according to The Hollywood Reporter, Parsons has just announced he will be stepping down from the CBS Corporation Board of Directors, which includes his position as chairman of the board.

Parsons was named interim chairman after the removal of Leslie Moonves, who left on September 9, after a number of women came forward with sexual assault allegations against him. These women alleged that Moonves made unwanted sexual advances toward them over the course of several years, as previously reported by the Inquisitr. Moonves denied the allegations, but was still removed from the company.

In a recently released statement, Parsons explained the reason behind the difficult decision to resign.

"The reason for my departure relates to the state of my health," he said.

"As some of you know, when I agreed to join the board and serve as the interim chair, I was already dealing with a serious health challenge — multiple myeloma — but I felt that the situation was manageable. Unfortunately, unanticipated complications have created additional new challenges, and my doctors have advised that cutting back on my current commitments is essential to my overall recovery."

The media executive was diagnosed with the rare form of blood cancer several years ago but after undergoing a stem cell transplant, the disease went into remission. However, it seems that is no longer the case.

Parsons went on to announce his successor while expressing his belief in the continued success of the corporation.

"I trust CBS's distinguished board, now led by Strauss Zelnick, as well as CBS's strong management team led by Joe Ianniello, will continue to successfully guide this company into its very bright future."

According to THR, the decision to appoint Zelnick was unanimous and he will step into the role immediately. Zelnick should feel right at home as he has held a number of management roles in entertainment.

Parsons, a Brooklyn lawyer, served as the Time Warner CEO for about five years before making his exit in 2007. After that, he took on the role of chairman of Citigroup in 2008, during what many considered to be a time of financial crisis. He was also interim CEO of the Los Angeles Clippers after the team's owner resigned.

Based on his track record, it seems Parsons has played a major part in steering many companies through difficult situations.