Richard Parsons is resigning as interim chairman of CBS due to illness

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CBS Corp. says that Richard Parsons, its interim chairman and a veteran of the media industry, has resigned from its board due to illness.

The media company named Strauss Zelnick, another media industry leader, as his replacement.

CBS named Parsons interim chairman in September as it tried to reshape itself following the resignation of its longtime chief Les Moonves, who had faced multiple sexual misconduct allegations.

Parsons said in a statement Sunday that he was already dealing with multiple myeloma when he joined the board, but “unanticipated complications have created additional new challenges” and that his doctors have advised he cut back on his commitments to ensure recovery.

His successor, Zelnick, currently serves as CEO and chairman of interactive entertainment company Take-Two Interactive Software Inc.

Parsons was known for bringing a steady hand to a number of complex business deals, including the AOL-Time Warner merger, and had already launched the search for a new chief executive at CBS, according to The New York Times.

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