When Robert Sarnoff succeeded his father as head of RCA Corp. in 1968, the family's continued dominance over the diversified electronics giant seemed all but assured. Last week, though, "Bobby" Sarnoff abruptly quit as chief executive because directors would not give him a raise. That left RCA without a Sarnoff at its head for the first time in its 45 years of existence. In a move that stunned New York's business community, RCA announced that Sarnoff, at the age of 57, also would step down as chairman, and even as a director on Dec. 31. RCA said that Sarnoff, who...
To continue reading:
or
Log-In
