Changes of the Week

P: Herbert Lester Barnet, 46, onetime New York lawyer, was named president of Pepsi-Cola, replacing Alfred Nu Steele, who moved up to the board chairmanship and remains chief executive officer. Barnet developed a nodding acquaintance with Pepsi-Cola as a member of a New York law firm which handled Pepsi's business, did so well that in 1949 he went over full time. Put in charge of all concessions, Barnet hit the spot, and within a year was twice promoted to veep in charge of national sales, then to vice president in charge of domestic operations. In 1954 he became executive vice president. Under Steele and Barnet, Pepsi's earnings have risen from $1,618,744 m 1950 (when Steele took over) to a 1954 net of $6,212,690. In 1955's first quarter, Pepsi and foreign subsidiaries reported a 100% increase in earnings (to $1,170,000) over the same period last year.

P: Gordon Evans Dean, 49, onetime chairman of the Atomic Energy Commission (1950-53) became "vice president--nuclear energy" at General Dynamics. His job: to run the corporation's $1,000,000 nuclear research and engineering program announced a fortnight ago.

P: Craig D. Munson, 56, became president of International Silver of Meriden, Conn., world's largest silverware manufacturer (1954 sales: $64 million), succeeding the late Maltby Stevens. Born in nearby Wallingford, Munson prepped at Wallingford's Choate School, went on to Yale (where he rowed in the varsity), and to work for International in 1920, beginning as a salesman. In 1928, Munson moved up to general advertising manager of International's sterling silver division and a member of the board; seven years later he became International's sales vice president.

P: L. (for Lee) Russell Kelce, 58, was elected president of Peabody Coal Co., the nation's No. 2 commercial coal producer (No. 1: Pittsburgh Consolidation Coal), succeeding Otto Gressens, who became board chairman. Son of a Pittsburg, Kans. miner, Kelce went into the pits at 15, by the time he was 22 owned his own mine in Oklahoma. In 1924 Kelce moved into small Sinclair Coal, which actually owned no mines and acted only as a coal seller. In a few years he made the Sinclair group into one of the nation's biggest producers, with 17 mines in six states. Last month, Peabody Coal, which had not been doing too well, swapped 6,492,164 of its shares for all the capital stock of privately owned Sinclair, acquiring Sinclair and Sinclair's peppy Kelce.

This file is automatically generated by a robot program, so reader's discretion is required.