Chrysler Chairman Happy with Kerkorian Deal

02/13/96

Reuters reported that Robert Eaton, Chairman of Chrysler Corporation, is happy with the way last week's power struggle with billionaire and major Chrysler shareholder Kirk Kerkorian turned out. Kerkorian launched a bid to place his top strategist Jerome York, to a vacant seat on Chrysler's board. Chrysler rejected that appointment and appointed John Neff, former managing director of Wellington Management Co., instead. Kerkorian was expected to battle the corporation, but that fight was averted when Chrysler appointed another long-time Kerkorian associate to the board the following day. In return, Kerkorian agreed not to buy any more stock for 5 years.

Paul Dever -- The Auto Channel