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NEW YORK - Time Warner Chairman Richard Parsons suggested at the company's annual meeting Friday that he would probably leave as expected next year, clearing the way for Chief Executive Jeff Bewkes to also become chairman.
| TWX | 31.13 |  1.03 |
Parsons, in introducing the company's board members at the meeting in Atlanta, said that this was his "last shot at this" since "I will be the outoing chairman after this year, probably."
That would open the way for Bewkes, who took over as CEO from Parsons on Jan. 1, to also become chairman. Bewkes' employment contract allows him to elect to resign with a severance package if he isn't made chairman within a year.
A Time Warner spokesman noted that nothing has been made official about Parson's tenure as chairman, which would require a decision by the board.
Also Friday Time Warner shareholders voted down a proposal from an investor that would have advised the company to separate the roles of chairman and CEO.
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The New York City will give 500 tickets for the ceremony on Thursday from 2:00 p.m. to 4:00 p.m. EST.
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