COMMODITIES,AVIATION: Policy in Gum

MANAGEMENT

Philip Knight Wrigley, 48, who has voting control of 31.8% of the world's biggest chewing-gum works, fired himself from the presidency of his $64,000,000 company last week. His main reason was almost too simple: he thought it would be better for the Wm. Wrigley Jr. Co. of Chicago.

Principles & Policies. In an extraordinary letter (mailed at his own expense) to his stockholders, Phil Wrigley explained that "the company's policies were departing from those upon which the business was founded," that "there have been differences of opinion between other members of the...

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!