Business & Finance: New President

John Webster Thomas, 51, was elected president of Firestone Tire & Rubber Co., succeeding Founder Harvey Samuel Firestone who became chairman after being president 29 years. Fortnight ago Mr. Firestone pleased stockholders when he told them the company had earned almost four times as much in 1931 as in 1930. Last week, they were reassured, the new title did not mean his retirement. John Thomas started as Firestone's first chemist. He was then 28, got a salary of $100 a month, a $10 raise from his previous job. The company employed about 700...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!