Rotund Andy Granatelli, chairman of STP Corp., has become one of television's most familiarindeed, unavoidablecommercial pitchmen, touting his much criticized engine-oil additive as the "racer's edge." A little more than a week ago, Granatelli, 50, got the razor's edge when his board of directors abruptly cut him loose and replaced him with John J. Hooker Jr., entrepreneur and sometime politician. Hooker was hand-picked by Derald H. Ruttenberg, chairman of the widely diversified Studebaker-Worthington Inc., which owns a controlling interest in STP. The keenly publicity-conscious Granatelli was almost as incensed by what he believed was inadequate press coverage of his ouster...
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