Richard Parsons, the former Time Warner chairman who became a go-to executive brought in to steady such troubled organizations as CBS Corp., Citigroup and the Los Angeles Clippers, died Thursday. He was 76.

Parsons died at his Manhattan home of bone cancer, Ronald S. Lauder, a member of the Estée Lauder board and a close friend, told The New York Times. He also battled multiple myeloma, a pernicious blood cancer, over the years.

In September 2018, Parsons was named interim chairman of CBS after chairman and CEO Leslie Moonves resigned following allegations of sexual harassment. He was a key player in negotiating the Moonves exit and in appointing COO Joseph Ianniello as acting CEO. He also brought in six new directors.

Parsons’ tenure, however, lasted less than a month. On Oct. 21, he announced he was leaving the post after learning that his health had taken a turn for the worse. Parsons had...