The NBA named former Citigroup and Time Warner executive Dick Parsons as the Los Angeles Clippers' interim CEO.
Parsons' job with the Clippers began immediately. He is currently a senior adviser at Providence Equity Partners and sits on the board of directors for the Commission on Presidential Debates. The hiring of Parsons comes after the NBA banned Clippers owner Donald Sterling for life on for racial comments he made. The league also will attempt to force Sterling to sell the franchise.
"I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization," NBA commissioner Adam Silver said in a statement. "Dick's credentials as a proven chief executive speak for themselves and I am extremely grateful he accepted this responsibility."
Parsons played basketball at the University of Hawaii and began his legal career as a staff lawyer for New York Governor Nelson Rockefeller. In 1988, Parsons became president and then chairman and CEO of Dime Bancorp Inc. He began his career at Time Warner in 1995 as president and before becoming chairman and CEO (2002-08). After retiring from Time Warner, the former member of President Obama's economic advisory team served as chairman of Citigroup until stepping down from that position in 2012.
"Like most Americans, I have been deeply troubled by the pain the Clippers' team, fans and partners have endured," Parsons said in a statement. "A lifelong fan of the NBA, I am firmly committed to the values and principles it is defending, and I completely support Adam's leadership in navigating the challenges facing the team and the league. The Clippers are a resilient organization with a brilliant coach and equally talented and dedicated athletes and staff who have demonstrated great strength of character during a time of adversity. I am honored to be asked to work with them, build on their values and accomplishments, and help them open a new, inspiring era for their team."
The NBA announced last Saturday it would appoint a CEO to supervise the Clippers' operation. Longtime Clippers president Andy Roeser, who publicly questioned the legitimacy of Sterling's remarks, also recently took a leave of absence. Sterling's wife Shelly also said she would like to maintain ownership of the franchise – something Players Association officials have said they would not like to see happen.