Pink slip for the boss
He was brought aboard to breathe vigor into a venerable but increasingly sleepy-eyed old Midwest industrial firm. Instead, the five-year tenure of Archie R. McCardell, 55, first as president and then as chairman and chief executive officer of International Harvester Corp. (1981 sales: $7 billion), has taken the ailing truck and farm-equipment manufacturer to the edge of financial ruin. Last week, after two years of heavy losses and forecasts of worse to come, the aggressive and hard-charging McCardell abruptly vacated his $480,000-a-year post. Though bankers and colleagues expressed...
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