Richard Parsons exits as TW chairman

December 11, 2008 The move, voted on by the board late Thursday, once again combines the TW chairman and CEO titles in a single executive -- a practice that some corporate governance activists dislike. "I'll continue to work closely with the board and our senior management team to execute our company's strategy of providing compelling, branded media content to audiences around the world while delivering superior growth and returns to our stockholders," Bewkes said. Speaking on behalf of the board, lead independent director Frank Caufield said: "Time Warner is going through a strategic transition to become a more streamlined content-focused company to take advantage of growth opportunities afforded by fast-moving technologies and markets worldwide."

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