Changes of the Week

P: Robert William Galvin, 34, was elected president of Motorola Inc., replacing his father, Paul V. Galvin, 61, who becomes board chairman and remains chief executive officer of the company he founded 28 years ago. Born in Marshfield, Wis., young Bob went to work in Motorola's stockroom in 1940, has been with the company ever since, except for a hitch in the wartime Signal Corps. In 1954 Motorola muscled its way into the company of the TV giants (Philco, Admiral and RCA), now claims to be the nation's No. 1 radio-manufacturer. At the end of 1956's first nine months. Motorola turned in earnings of $4.8 million, only 2% below the 1955 period v. a 49% drop for Admiral, a 65% drop for Philco. The busily diversifying company (transistors, Chrysler's pushbutton gear shift) is currently spending $8 million yearly developing new products.

P: Nicholas M. Schenck, 74, one of Hollywood's last tycoons, quit the board of Loew's Inc., world's biggest moviemaker (Metro-Goldwyn-Mayer studios, some 170 U.S. and foreign theaters, M-G-M records). A Russian immigrant boy who peddled papers, Nick Schenck got in at the start of the picture business, fought his way to the presidency of Loew's in 1927. Last year, as earnings fell and the threat of a stockholders' proxy fight rose, Schenck moved upstairs to board chairman, later honorary chairman.

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