Word: townsend
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...third biggest automobile company have been knocking on corporate doors across the U.S. seeking a new president. Last week, in a move that caught Detroit by surprise, the Chrysler board called off its hunt for an outsider and turned inside to tap Administrative Vice President Lynn Alfred Townsend...
Before settling on Townsend, Chrysler's president-hunters got turndowns from a bevy of top-ranking U.S. executives, including American Motors President George Romney, Chevrolet General Manager Edward Cole, Ford Vice Presidents James O. Wright and Irving Duffy, and, most recently, General Motors Vice President James E. Goodman. Most who said no were not fearful of Chrysler's long-term future, or dissatisfied with the offer (along with the customary six-figure salary, Chrysler's directors were offering three-year stock options that could be worth $1,500,000). What helped to scare them...
Another living legend--Charles Townsend Copeland--had already left the Yard two months before. No less esteemed than a president, "Copey" had climbed three flights of stairs to his Hollis 15 room for twenty years during which time he made magic of rhetoric for several thousand College men. He still read to freshmen for several years more, but his active teaching life was over...
Agonizing Reappraisal. The cost cutbacks signify an agonizing reappraisal of company thinking, recognizing that if Chrysler is not going to get its traditional 20% share of the market, it should cut costs to fit the share of the market it has. The man behind the cuts is Lynn A. Townsend, 42, whom Chairman Colbert brought in last month as administrative vice president from his job as vice president in charge of international operations...
Since their marriage last year, ex-R.A.F. Group Captain Peter Townsend, 45, unlucky in love with Princess Margaret, and his second wife, Belgian ex-Photographer Marie-Luce, 21, have lived quietly in a Paris suburb, collaborated on the house work, relaxed with morning constitutionals. Arriving in Manhattan last week, they put up in a modest hotel. Townsend, who once snidely ticked off the U.S. as a materialistic nation of salesmen, had possibly come to the U.S. to sell something but craftily kept the exact nature of his fortnight's ''business trip" a stiff-upper-lipped mystery...