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Under
Townsend's leadership, Chrysler decreased expenses, overhauled its dealer system, and made improvements to its vehicles. Its U.S. market share grew from 7.3% in 1962 to 16.7% in 1966. Love stepped down as chairman in 1966 and Townsend succeeded him while remaining the company's chief executive.
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In 1957, Townsend joined
Chrysler as comptroller. In 1959, he became group vice president of international relations and joined the company's board of directors. In 1960, Townsend was promoted to vice president of administration – the number two position in the company. On July 27, 1961, Chrysler
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214:. Townsend returned to Ernst & Ernst in 1946, but left after a year to join George Bailey & Company (later known as Touche, Niven, Bailey & Smart and since merged into
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caused car sales to plummet, which compounded
Chrysler's financial woes. In the fourth quarter of 1974, Chrysler Corporation posted a record loss of $ 170 million and
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in 1940 and a master's in business administration from the same school the following year. On
September 14, 1940, Townsend married Ruth M. Laing. They had three sons.
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to live with an uncle, North I. Townsend, who was a comptroller. Townsend graduated from high school two years ahead of his class and worked as a teller at the
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was Lynn in hopes that the climate would improve his mother's asthma. Georgia
Townsend died in 1929 and Lynn Sr. died five years later. Townsend moved to
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While in college, Townsend worked part time for the accounting firm Briggs & Icerman. From 1941 to 1944, Townsend worked for the accounting firm of
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had removed its rating from
Chrysler Financial's commercial paper. On July 4, 1975, Townsend announced he would retire on October 1, 1975.
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159:(May 12, 1919 – August 17, 2000) was an American automobile executive who was president, chairman, and chief executive of the
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218:), as a supervising accountant. In 1948, he began working on Chrysler's account. He also did accounting for the
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238:, was the company's chief policy officer and Townsend served as the company's chief administrative officer.
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82:
428:
Ingraham, Joseph C. (September 22, 1961). "G.H. Love Is Named
Chairman And Chief of Policy at Chrysler".
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597:
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Livingston, J.A. (October 22, 1961). "Townsend, Energetic Six-Footer, Steers
Chrysler's Comeback".
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for a year after graduating to pay for college. He earned a
Bachelor of Arts degree from the
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Salpukas, Agis (July 5, 1975). "Townsend
Decision to Quit Chrysler Believed His Own".
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Petersen, Melody (August 22, 2000). "Lynn Townsend, Ex-Chrysler Chief, Dies at 81".
478:"Chrysler Seen Naming Townsend Chairman Tomorrow; Boyd Given Edge for Presidency".
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Towsend was born to Lynn A. and Georgia E. (Crandall) Townsend on May 12, 1919, in
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and as president by Townsend. Love, who worked part-time due to his duties with
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resigned amid a conflict of interest scandal. He was succeeded as chairman by
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Bender, Marylin (April 27, 1975). "Chrysler: A Stripped-Down Corporation".
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398:"Chrysler Puts Townsend In No. 2 Post, May Slate Him for Presidency".
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Riding the Roller: Coaster A History of the Chrysler Corporation
269:, who arranged for $ 410 million in loan credits. However, the
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American chief executives in the automobile industry
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623:Businesspeople from Beverly Hills, California
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653:United States Navy personnel of World War II
222:. In 1952, he became a partner of the firm.
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320:. Marquis-Who's Who. 1965. p. 1326
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289:Townsend died on August 17, 2000, in
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608:20th-century American businesspeople
383:"Chrysler's Chief New to Top Team".
546:January 27, 1961–December 1, 1966
413:"Colbert Resigns Chrysler Posts".
317:Who's who in Commerce and Industry
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574:December 1, 1966–October 1, 1975
267:Manufacturers Hanover Corporation
16:American businessman (1905–1995)
643:People from Evansville, Indiana
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1:
648:University of Michigan alumni
638:People from Flint, Michigan
220:American Motors Corporation
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291:Farmington Hills, Michigan
251:bankruptcy of Penn Central
68:Farmington Hills, Michigan
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548:
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346:Hyde, Charles K. (2003).
279:Moody's Investors Service
177:Beverly Hills, California
633:Ernst & Young people
253:in 1970 led to a run on
203:. He then served in the
480:The Wall Street Journal
400:The Wall Street Journal
226:chairman and president
189:University of Michigan
175:. The family moved to
102:chairman and president
83:University of Michigan
613:American accountants
570:Chrysler Corporation
542:Chrysler Corporation
482:. November 30, 1966.
161:Chrysler Corporation
157:Lynn Alfred Townsend
35:Lynn Alfred Townsend
628:Chrysler executives
526:Business positions
402:. December 5, 1960.
275:1973–1975 recession
181:Evansville, Indiana
534:Lester Lum Colbert
513:The New York Times
498:The New York Times
465:The New York Times
430:The New York Times
415:The New York Times
385:The New York Times
261:. The company was
255:Chrysler Financial
236:Consolidation Coal
228:Lester Lum Colbert
205:United States Navy
185:National City Bank
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577:Succeeded by
549:Succeeded by
540:President of the
359:978-0-8143-3781-3
201:Ernst & Ernst
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110:Years active
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580:John J. Riccardo
568:Chairman of the
559:Preceded by
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387:. July 28, 1961.
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259:commercial paper
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25:Lynn A. Townsend
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60:August 17, 2000
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64:(aged 81)
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363:. Retrieved
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62:(2000-08-17)
45:May 12, 1919
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603:2000 deaths
598:1919 births
552:Virgil Boyd
365:January 18,
324:January 18,
244:Virgil Boyd
592:Categories
297:References
263:bailed out
167:Early life
92:Occupation
41:1919-05-12
113:1941–1975
216:Deloitte
147:Children
100:Chrysler
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98:Former
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211:Hornet
195:Career
118:Spouse
70:, U.S.
51:, U.S.
285:Death
132:(
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367:2024
354:ISBN
326:2024
273:and
249:The
209:USS
57:Died
31:Born
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