Ex-Time Warner CEO Parsons to Appear at Hill Hearing

Committee on Oversight and Government Reform Looking at CEO Compensation

By John Eggerton -- Broadcasting & Cable, 2/29/2008 12:39:00 PM

Dick Parsons, who stepped down as Time Warner CEO in January, will step up to the witness table in Washington, D.C., at a Hill hearing March 7.

According to a witness list from the Committee on Oversight and Government Reform, Parsons will be there in his capacity as chair of the compensation committee for Citigroup.

The Oversight Committee, chaired by Henry Waxman (D-Calif.), is looking at compensation packages for CEOs at financial institutions in the wake of the mortgage-banking "crisis" that saw 2 million home foreclosures in 2007, according to one source. Those include Citigroup and Merrill Lynch, whose former chairmen will join Parsons at the hearing.

This will be the second oversight hearing on executive compensation. The first, which featured compensation consultants, was held Dec. 5.

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