Carnation Co., which last week received a green light from the government to proceed with its merger with the giant Swiss conglomerate Nestle S.A., said its president, Timm F. Crull, will assume the additional duties of chief executive. He succeeds H. Everett Olson, 78, who will continue as chairman until he retires Dec. 31.
The change at the Los Angeles-based food company is effective Feb. 1.
Commenting on his retirement after 54 years with Carnation, Olson said in a statement: "Prior to any thought of merger with Nestle, I had decided to retire in 1985. Now that the merger has been approved, I feel this is the most appropriate time for my retirement."
Nestle's $3-billion acquisition of Carnation is the largest merger--outside the oil industry--in history.
Crull, 53, was elected president in November, 1983. He rose through the ranks at Carnation, becoming a senior vice president and a member of the executive committee in 1977. Later that year he resigned to become president and a director of Norton Simon Inc. He rejoined Carnation in 1980 as executive vice president and a director.