Changes of the Week

P: Thomas Elbert Sunderland, 52, vice president and general counsel of Standard Oil Co. (Ind.), was named president and chief executive officer of the trouble-torn United Fruit Co., succeeding Kenneth H. Redmond, 64, retiring after 42 years with the company. Sunderland, who admits he "knows nothing about bananas," is an expert in the antitrust problems that plague United Fruit; under a 1958 antitrust decree, United Fruit must sell off some of its properties, give up 35% of its import business. A Michigan-born lawyer, Sunderland saw World War II service in the Army Air Forces, became a Standard director and vice president in 1949. At United Fruit, he hopes to revive wilting profits ($1.15 per share in the first six months of 1959 v. $1.94 last year) and restore United Fruit's dividend, dropped in August for the first time in 60 years.

P: Charles Jacob Stewart, 61, general partner in Lazard Freres & Co., New York investment bankers, was elected president of Manufacturers Trust Co., fifth largest bank in New York City, succeeding Eugene S. Hooper, 61, who is retiring. Dallas-born, Stewart graduated from Yale in 1918, joined New York Trust's commercial banking department in 1930, rose to the presidency in 1949, joined Lazard Freres in 1953.

P:Lawrence Alan Tisch, 36, president of Tisch Hotels, Inc. and largest stockholder in Loew's Theatres (15%), was elected a Loew's director and chairman of its finance committee. Brooklyn-born Larry Tisch, a New York University graduate ('42), and his brother Robert, 33, own the largest chain of U.S. resort hotels (seven with 2,800 rooms, including Miami Beach's Americana and Atlantic City's Traymore), now worth $60 million. They started with a $175,000 investment in Lakewood, NJ.'s Laurel-in-the-Pines Hotel in 1946. Tisch started buying into Loew's Theatres last April after it was separated from Loew's Inc., the movie production company, by a court order. He hopes to diversify the company, has been looking at real estate and industrial companies, radio and TV stations.

This file is automatically generated by a robot program, so reader's discretion is required.