Word: semons
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Ever since last February, when Henry Ford II landed G.M.'s Semon E. Knudsen as his company's new president, Detroit has fairly rumbled with rumors of other changes at Ford. Few were surprised last month when ex-President Arjay Miller, who had been moved sidewise to make way for Knudsen, announced plans to move west to head Stanford University's Graduate School of Business. Now a second exit has caught the motor city off guard. Last week Ford announced the resignation of one of the industry's brightest executives: Donald N. Frey, 45, a prime...
...head Stanford University's Graduate School for Business effective next July. Miller recalls: "Mr. Ford understood why I wanted to go." So did other automen in Detroit. Miller's leavetaking had been expected since February, when Henry Ford II raided General Motors and came away with Semon E. Knudsen to replace him as president at Ford. Miller at 51 was shunted sideways into the newly created spot of vice chairman-after 22 years with the company, which he joined with Robert McNamara as one of the famed "whiz kids." A scholarly executive who once taught economics...
Discussing auto sales and corporate profits with 1,200 stockholders at their annual meeting last week, Ford Motor Co. Chairman Henry Ford II and President Semon E. Knudsen were in an optimistic mood. They had good reason to be. Auto sales, which accounted for 90% of Ford's quarterly revenues of $3.9 billion, are so strong that Ford's earnings will probably be close to the record year of 1965, when the company broke all sales marks and profits were $703 million...
When Henry Ford II recently took his company's new president, ex-General Motorsman Semon ("Bunkie") Knudsen, on an inspection tour of European operations, the worst was saved for last. Landing at Cologne, Ford and Knudsen needed only to look out the window of their private plane to see lots filled with Ford-made cars-part of the 45,000 that presently account for 56% of all West Germany's unsold autos. Ford sales for last January were off 35% and production schedules have been cut by one-third. Finally, arriving at the company's Cologne headquarters...
...remarkable strengths of General Motors Corp. is its ability to hang on to key men through a system based on tradition, hefty salaries, and stratospheric but delayed bonuses subject to costly forfeit if a man quits. Automen were understandably astonished two weeks ago when Semon Emil ("Bunkie") Knudsen, G.M.'s fourth-ranking officer, abruptly resigned as executive vice president and a company director. Even more stunning was last week's announcement that Knudsen had become the new president of Ford Motor Co., G.M.'s archrival in one of the toughest competitions private enterprise has yet produced...