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New McDonnell Chief a Member of Family

February 02, 1988

Sanford N. McDonnell will retire as chairman and chief executive of McDonnell Douglas Corp., St. Louis, on March 2 and will be succeeded at the aerospace giant by John McDonnell, his cousin and the company's president and chief operating officer.

Sanford McDonnell, 65, is a nephew of McDonnell Douglas founder James S. McDonnell and became chairman in 1980 upon the death of his uncle.

John McDonnell, 49, is a son of James S. McDonnell and has been president of the company since 1980. He became chief operating officer last July and will retain the title of president.

"Frankly, I feel vigorous enough to continue working full time for several more years," McDonnell said in a statement, "but I've long believed that no one should remain in the top position at a major corporation much beyond the age of 65, and retiring now is a way of practicing what I preach.

"I'm also pleased to leave behind a successor as capable and as well qualified as John McDonnell, a great executive who has done a super job in his years as president and is obviously fully ready to move up."

Sanford McDonnell joined McDonnell Aircraft Co. in 1948 and held a wide variety of positions of increasing responsibility in the following years. He became vice president, project management in 1959, a member of the board of directors in 1962 and president in 1966.

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