Strauss Zelnick will take on the role of interim chairman, the company said.
"The reason for my departure relates to the state of my health," Parsons said in a news release. "As some of you know, when I agreed to join the board and serve as the interim chair, I was already dealing with a serious health challenge -- multiple myeloma -- but I felt that the situation was manageable. Unfortunately, unanticipated complications have created additional new challenges, and my doctors have advised that cutting back on my current commitments is essential to my overall recovery. I trust CBS' distinguished board, now led by Strauss Zelnick, as well as CBS' strong management team led by Joe Ianniello, will continue to successfully guide this company into its very bright future."
CBS noted Zelnick is a widely respected media industry leader who has held management roles in all forms of entertainment, including recorded music at BMG Entertainment, motion pictures and television programming at 20th Century Fox and international television distribution at Columbia Pictures. In 2001 he founded the media-focused private equity firm ZMC (Zelnick Media Capital), and he currently serves as CEO and chairman of the board of Take-Two Interactive Software, Inc. (TTWO) - Get Report .