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Parsons Named Clippers Interim CEO

Former Time Warner Inc, chairman and CEO Dick Parsons has been named by the National Basketball Association as interim CEO of the troubled Los Angeles Clippers franchise, a team that has been rocked by the racist comments of its owner Donald Sterling.

Parsons, known for his diplomatic style and his penchant for smoothing over tense situations, retired from Time Warner in 2007. In 2009 the former banker became chairman of Citigroup, steering the financial services behemoth through the overall financial crisis before retiring in 2012.

Sterling received a lifetime ban from the NBA on April 29, was fined $2.5 million and has been ordered to sell the team after racist comments he made to his then mistress were made public. Sterling has said he will not sell the team, indicating that he is gearing up for a legal battle with the NBA.

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