Britain: Sirs Paul and Peter

In the eight years he spent as chairman of Imperial Chemical Industries Ltd., Sir Paul Chambers, 63, shook up Britain's largest private company from the front office to the production line. He turned a stodgy, Commonwealth-oriented company into a lean operation with new muscle to flex on world markets. Now Chambers wants out. For all his efforts, I.C.I.'s actual performance remains sluggish. And he puts part of the blame on Labor government policies; he complains that "any fool can save the pound by damming the economy." Opting for a far less demanding job, Chambers will...