Presenter Richard Parsons speaks during the 2014 Matrix Awards at the Waldorf Astoria April 28, 2014, in New York City. 
Cindy Ord/Getty Images

The new interim CEO of the Los Angeles Clippers is Dick Parsons. The appointment of the former chair of Citigroup and Time Warner was announced by commissioner Adam Silver on Friday, USA Today reports.

Parsons, who is black, was chosen to help with the Clippers after its current owner, Donald Sterling, was stripped of his privileges and banned for life from the NBA.


"Like most Americans, I have been deeply troubled by the pain the Clippers' team, fans and partners have endured," Parsons said in a press release, according to USA Today. "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."

Parsons is a former basketball player himself, having played with the University of Hawaii in the late 1960s. His career has taken him from law to corporate management. He was the CEO of Time Warner for 13 years (1995-2008) and of Citigroup for three (2009-2012).


"I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization," Silver said, according to the report. "Dick's credentials as a proven chief executive speak for themselves, and I am extremely grateful he accepted this responsibility."

Read more at USA Today.