Word: newberg
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Dates: during 1960-1969
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Chrysler's brand-new President William Charles Newberg, 49, called in the press one day last week, smilingly posed beside brand-new 1961 models for pictures to be used when the cars go on sale in September and October. Elected president only nine weeks ago, he talked enthusiastically of plans for Chrysler's coming year. Two days later Chrysler Chairman Lester Lum ("Tex") Colbert called an emergency meeting of Chrysler's board of directors in Manhattan, and he and Newberg flew there from Detroit in two company planes. At the meeting, to the shocked surprise of Detroit...
...board's terse official explanation: "His resignation was due to differences of opinion on certain corporation policies.'' When Colbert flew back to Detroit alone, leaving Newberg to follow via commercial flight, the first speculation was that the trouble was a personal squabble between Chrysler's two top men. But when Newberg was asked if he and Colbert were still friends, he replied: "Yes, as far as I'm concerned." It hardly seemed likely at this late date that Colbert and New berg could clash with such finality. Few executives in U.S. companies have been closer...
...meeting was probably the last that Tex Colbert, 54, would preside over as president and chief executive. Chrysler is about ready to change its top management, move Colbert up to board chairman, and name Executive Vice President William C. Newberg, 49, as boss. The shift has been in the works for months, and is not the result of last week's criticism at the annual meeting. Newberg is the man who succeeded Colbert at Dodge in 1951. has been groomed for the presidency for two years. And after ten years of fighting Chrysler's battles. Tex Colbert himself...