TIME
Since its yeasty youth under moon-shooting Idea Men Paul Hoffman and Robert Maynard Hutchins, the vast Ford Foundation ($2.7 billion in current assets) has grown more staid. Latest evidence: the appointment of Manhattan Banker John J. McCloy, U.S. High Commissioner for Germany from 1949 to 1952, to succeed H. Rowan Gaither Jr. as board chairman. McCloy, 63, will take over in December without leaving his post as board chairman of the Chase Manhattan
Bank. Gaither, who helped give the foundation its present shape and direction, announced last May that he would return to his San Francisco law practice. Still in office as the foundation’s guiding force and chief executive: able President Henry Heald.
More Must-Reads from TIME
- How the Economy is Doing in the Swing States
- Democrats Believe This Might Be An Abortion Election
- Our Guide to Voting in the 2024 Election
- Mel Robbins Will Make You Do It
- Why Vinegar Is So Good for You
- You Don’t Have to Dread the End of Daylight Saving
- The 20 Best Halloween TV Episodes of All Time
- Meet TIME's Newest Class of Next Generation Leaders
Contact us at letters@time.com