Dick Parsons Named New Citigroup Chairman: Making Power Moves

To add to the momentum of yesterday’s inauguration, former Time Warner Chairman Dick Parsons was today named Chairman of Citigroup. Yet another brother hired to save a sinking ship. His appointment comes at a time when the company has been experiencing a great deal of financial turmoil, with several board members either resigning or retiring. The company also announced plans last week to essentially split in two. We wish Mr. Parsons luck. Strap on the life jacket … it’s going to be a crazy ride!