Ever since the resignation of Chrysler Corp. President William C. Newberg a year ago on conflict-of-interest charges (TIME, July 11, 1960 et seq.), the directors of the nation's 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, 42.
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...
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