Word: freimann
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Dates: during 1960-1969
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Died. Frank Freimann, 63, president since 1950 of Magnavox Co., who prodded the once small electronics firm out of components and into the consumer market; of a heart attack; in Manhattan. Whether it was tubes and resistors or TV sets and stereo consoles, Freimann was a bug about bugs: either make it right or not at all. Nor did he join the postwar race to discount, sold only at a fixed price-and made it stick so successfully that sales last year topped the $400 million mark...
Last week Magnavox President Frank Freimann announced that 1966 sales had jumped 36%, to $453 million, earnings had soared more than 50%, to $34.7 million, or $2.25 a share. More over, the company clocked an estimated 30% return on invested capital, against 12% for U.S. industry as a whole...
...want to be the biggest," explains Freimann, who became president in 1950. "Only the best...
...source of much of the company's energy is its 60-year-old president. Freimann (pronounced Fry-man), who heads up a trim management team with an average age in the low 40s, emigrated from Hungary as a boy, lived in Chicago, quit trade school after two years and, at 19, talked his way into the chief engineer's job at the Lyradion Co., one of the early makers of radio-phonographs. "In those days," says Freimann, "the only people who knew anything about radio were kids." Freimann eventually formed his own Electro-Acoustic Products Co., where...
...Frank M. Freimann, president, Magnavox...