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The NBA has chosen Dick Parsons, a former Citigroup chairman and former Time Warner chairman and CEO, as interim CEO of the Los Angeles Clippers.
Parsons will oversee the franchise while the league tries to force owner Donald Sterling to sell it following his lifetime ban for making racist remarks.
NBA Commissioner Adam Silver says Friday in a statement that Parsons "will bring extraordinary leadership and immediate stability to the Clippers organization."
With Sterling banned from anything to do with the team or league, and team President Andy Roeser on an indefinite leave of absence, the league and Clippers worked together to find a CEO.
Parsons, who has also been on President Barack Obama's economic advisory team, says he has been "deeply troubled" by the Clippers' situation.