Word: jannings
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Dates: during 1970-1979
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...JAN SCHNEIDER...
...least eight occasions this year, excitement over the jet-propelled professor's whereabouts has given prices a sharp if brief boost. Some samples: on Jan. 27, the Dow Jones industrial average jumped ten points after a Kissinger news conference disclosed some details of his previously secret trips to Paris to confer with North Vietnamese negotiators. On May 3, the Dow index climbed more than eight points in the first two hours of trading on the mere rumor that Kissinger was in Paris again (then the Dow tumbled more than ten points the same day when the White House denied...
...Vincent Learson, chairman and chief executive of the corporation for only 15 months, chose his 60th birthday to announce that he will retire next Jan. 1. He will be replaced by Frank T. Gary, 51, now IBM's president. Learson's departure, in fact, is little more than a routine management turnover. Back in 1966, when he became president, he expressed his intention of stepping down at 60. Learson will leave the corporation in brimming health; IBM's first-half net income rose 22%, to a record $618 million, on record revenues of $4.7 billion...
Beginning the day after Learson steps down, IBM will require its 37 other top officers to retire at 60. The new age limit will apply to Learson's predecessor, Thomas J. Watson Jr., who will turn 60 on Jan. 8, 1974. Chief executive of IBM for 15 years, Watson gave up that title last year after a heart attack but remained a member of the company's board and its top decision-making body, the Corporate Office. IBM's present retirement age of 65 will continue to cover the remainder of its 265,493 employees, but some...
...presidency. Likely contenders include two men from IBM World Trade Corp., the overseas arm that accounted for half of the parent firm's profits last year. They are Gilbert E. Jones, the Trade Corp.'s chief executive, who will move up into the Corporate Office on Jan. 1, and Jacques G. Maisonrouge, a French citizen, who will replace Jones as chief executive of IBM World Trade...