Changes of the Week

P:Donald Slichter, 57, was elected president and chief executive officer of Milwaukee's Northwestern Mutual Life Insurance Co., eighth largest life insurance company in the U.S. (insurance in force: $9 billion). A graduate engineer (University of Wisconsin, '22) and amateur gardener (roses), Slichter, brother of Harvard Economist Sumner Slichter, has been a vice president in charge of Northwestern Mutual's investment portfolio since 1949P:Emerson Foote, 51, a founder and onetime president of Foote, Cone & Belding, who once shocked Madison Avenue by voluntarily giving up the $12 million American Tobacco account, again caught fellow admen flat-footed by rejoining McCann-Erickson, from which he resigned as executive vice president 14 months ago. Returning as a director, senior vice president and member of the operations committee, Foote will concentrate on creative advertising and marketing. P:Robert Paxton, 56, was elected president of General Electric Co., biggest electrical manufacturer in the world (1957 sales: $4,335,664,061). Paxton, a Scottish-born, U.S.-educated (Rensselaer Polytechnic Institute, 1923) engineer, moved up as President Ralph J. Cordiner, who will continue as chief executive officer, was elected board chairman to succeed Philip D. Reed, who retired.

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