Richard Parsons, one of corporate America's most prominent Black executives who held top posts at Time Warner and Citigroup, died Thursday, the financial services company Lazard, where Parsons was a longtime board member,

The New York Times said the cause of death was cancer, citing Ronald Lauder, a longtime friend of Parsons and chairman of the board of Estee Lauder.

Richard Parsons, the executive dubbed “Captain Emergency” for his record of stabilizing ailing companies such as AOL Time Warner, Citigroup Inc. and Dime Savings Bank of New York, has died. He was 76.