Time Warner Inc. (TWX) announced that it has elected Jeffrey Bewkes as Chairman of the Board, effective January 1, 2009, succeeding Richard Parsons who has decided to step down as Chairman on December 31.
Bewkes served as Time Warner's President and CEO. He became CEO in January of 2008 and was elected to the company's Board of Directors in 2007. Prior to being named CEO, Mr. Bewkes served as Time Warner's President and COO from 2006 to 2007 and as chairman of the company's Entertainment and Networks Group from 2002 through 2005.
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