Ring Out the Old

In France, where age will be served, the elderly dominate business. One out of every four French companypresidents is 65 or older. One-third of the board members in France's 40 largest firms are past 70. And young executives grouse that their advancement is blocked by stubborn old men.

Last week the French government moved to unseat the elders. Under a bill drafted by the Cabinet for submission to the National Assembly --where its passage is practically assured--companies would be given two years to set some kind of mandatory retirement age. In firms failing to comply, all chief executives and other high-ranking managers would be required by law to step down at 65. Proprietors with controlling interest in their own firms would not be affected.

The measure, the first of its kind in a capitalist country, is stirring a howling controversy. Some Frenchmen argue that the bill should also include government leaders. They remain exempt, apparently on the assumption that what is dotage in business is simply seasoning in politics.

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