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March 05, 1994|From Times Staff and Wire Reports

General Dynamics Chairman to Retire: William A. Anders, 60, a former astronaut who engineered a dramatic shrinkage of the defense company that also returned more than $1.5 billion to stockholders, said he will not stand for reelection at General Dynamics' annual meeting May 4. The move was expected after Anders retired as chief executive and a company employee a year ago. He will be succeeded as chairman by General Dynamics' current chief executive, James R. Mellor, 63. The firm, which will make only tanks and submarines after the pending sale of its space rocket business is completed, also declared a 2-for-1 stock split--payable April 11 to holders of record March 21--and boosted its quarterly dividend to 35 cents a share from 30 cents, adjusted for the split.

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