Changes of the Week

P: Edward Vernon Rickenbacker, who 20 years ago took over sick little Eastern Air Lines (some 20 planes) and made it the industry's most consistent moneymaker (profits for 1955's first half: $4,200,000), signed up for another ten years as Eastern's chairman and general manager. Since he had reached retirement age (65) two months ago, Captain Eddie could have stepped out and collected about $30,000 yearly in pension and consultant's fee. But Eastern is well into the biggest expansion program in its history ($350 million for fleets of new piston, turboprop and jet airliners), and wanted to keep Captain Eddie around to handle it.

P: Nicholas M. Schenck, 72, last cinemogul to head a major film company continuously from the silent movies to CinemaScope, stepped from president and chief executive officer to board chairman of Loew's Inc. (Metro-Goldwyn-Mayer Studios, Manhattan radio station WMGM, M-G-M records, etc.). Loew's new boss: Arthur Marcus Loew, 58, whose father founded the original theater chain (which by U.S. court order is now a separate company) and merged three fledgling moviemakers into MGM. Arthur Loew attended Alexander Hamilton Institute and New York University ('18), enlisted in the Navy in World War I, found no mogul's job in the family firm when he got back, created the export department that now brings in some 40% of Loew's yearly income from films.

P: Downing Bland Jenks, 40, moved up from executive vice president to president of the Chicago, Rock Island & Pacific Railroad (14th largest), succeeding John Dow Farrington, who continues as chief executive officer in the new position of board chairman. Yaleman ('37) Jenks helped operate military railroads in Africa, Italy and Germany in World War II, was general manager of the Chicago & Eastern Illinois before Farrington brought him to the Rock Island in 1950.

P: David Garrett Hill, 53, was elected president and chief executive officer of Pittsburgh Plate Glass Co. to succeed Harry B. Higgins, who was named board chairman upon the retirement of Clarence M. Brown. A native of Pittsburgh and Cornell graduate ('24), Hill went to work for Pittsburgh Plate when it was changing from old-fashioned pot-casting to continuous tank methods. As general superintendent, he helped develop such new products as laminated glass, climbed steadily to glass-manufacturing vice president.

P: Harold L. Pearson, 52, lost his $42,500-a-year job as president of the Air Transport Association after six months in office. Pearson's highhanded running of A.T.A. threatened the prestige of the scheduled airlines that make up the organization; e.g., he threatened to pull airline advertising out of a newspaper that editorialized against airplane noise. Pearson's successor: Stuart G. Tipton, 45, A.T.A.'s general counsel.

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