Business & Finance: Ivey Out

When last fortnight Director Charles S. Kemp tightened his grip on Virginia-Carolina Chemical Corp., it was freely predicted that President Alphonso Lynn Ivey would not long retain his office (TIME, Oct. 21). Last week predictions were verified. Out went Mr. Ivey and in went Frank Swift Gibson, Baltimore fertilizer and chemical man. Out also went Vice President Mack Stuart Purvis and Treasurer Henry Edward Perry, irked by an “unhappy situation” resulting from an “annual change in leadership.”