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Report Tws Parsons Will Step Down Within Days

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by Jeff Bercovici
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Oct 26 2007 12:00am EDT

Report: TW's Parsons Will Step Down Within Days

It looks like the timing of Time Warner's power transition could be a matter of days, not weeks. The Times of London is reporting that Dick Parsons could step down as CEO "as soon as next week," yielding the job to Jeff Bewkes. The decision was discussed, though not confirmed, at a board meeting in London this week.

The succession plan has been public knowledge for months, but most observers believed it wouldn't happen until near the end of the year. The widespread assumption is that Bewkes will shake things up more than Parsons, who saw his job primarily as pouring oil on turbulent waters.

I've emailed a Time Warner spokesman for comment on the Times report; will post his response once I get one.

UPDATE, 4:11 p.m.: TW's spokesman tells Reuters it's a rumor. Of course, that's not exactly a denial...

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