Management: A Change at Jersey

Like an increasing number of U.S.

firms, Jersey Standard, the world's largest oil company and the third biggest U.S. corporation (after General Motors and A.T. & T.), has an inflexible retirement policy: from charlady to chair man, its 147,000 employees must leave at 65. Last week, as he reached that age, Chairman Monroe Jackson Rathbone announced both his departure and his successor. While Founder John D.

Rockefeller looked down from the wall of Jersey Standard's oak-lined boardroom in Rockefeller Center, President Michael L. Haider (rhymes with wider), 60, for the first time tested...

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!