Corporations: New Boss for Comsat

In his two years as chairman and chief executive of the fledgling Communications Satellite Corp., Leo D Welch, 67, supervised two notable accomplishments. On the ground he launched a $200 million stock issue that was snapped up by communications companies and 190,000 space-minded investors; into the air he launched the Early Bird satellite, now relaying sound and pictures from a perch 22,300 miles over the equator. Welch, who had earlier retired as Jersey Standard's chair man, was bothered by a kidney ailment He pressed for a younger successor and last week he had his wish. Taking over the...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!