Word: shake-up
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...Pittsburgh's H. K. Porter Co., Inc., an industrial combine with assets of $57 million, added another heirloom. He took over as board chairman and chief executive officer of Chicago's Crane Co., the nation's largest manufacturer of valves, fittings and pipes, in a shake-up of 104-year-old Crane's management...
Immediate cause of this coordinated shake-up was a portentous rumor that began to buzz through Europe's chancelleries as 1958 waned. To celebrate the inauguration of the Common Market, so the story ran, West Germany planned to make the Deutsche Mark freely convertible currency-a move that might well transfer the banking capital of Europe from London to Bonn...
...filter boom caused the greatest shake-up in the standings of cigarette companies since 1927-30, when American Tobacco's George Washington Hill doubled Lucky Strike sales and bumped R. J. Reynolds' Camel from its traditional hold on the No. 1 spot. In 1958 the story was different. Thanks to their bestselling filters, Reynolds' Chairman John Clarke Whitaker, 67, and President Bowman Gray, 51, dethroned American Tobacco as the No. 1 company for the first time since 1941. Reynolds captured 28.2% of the market v. 26.1% for American...
...CHRYSLER SHAKE-UP REPORTS, buzzing in Detroit because company's output this year is off 60% and heavy first-quarter loss is expected, picked up speed when two forward-looking vice presidents quit last week: No. 4 Man James Cope and West Coast Plant Boss Robert T. Keller, son of former President K. T. Keller. But President L. L. Colbert denies persistent reports that he will move up to chairman and that Veep William C. Newberg will become president...
...fight along with Robert Morse Jr., whose Fairbanks, Morse & Co. was threatened by a Silberstein takeover. With Morse bankrolling the fight, Landa led last year's Penn-Texas proxy crusade that elected two anti-Silberstein directors. Landa was also a key man in forcing last November's shake-up that brought Jacoby and Weisman on the board and set up the executive committee to start reining in Silberstein...