The softly carpeted executive suites of the Aluminum Co. of America have been governed since 1957 by a close-knit fraternity of men who grew up in the shadow of the late Arthur Vining Davis, for half a century the domineering chief of the world's largest aluminum company. In those eight years, in a series of frequent but gradual transitions, Alcoa's chairmen have three times passed on their duties as chief executive shortly before retirement. Last week, nearing 65, Chairman Lawrence Litchfield Jr. relinquished his duties as chief executive officer, a position he has held for only three years, to...
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