The Indianapolis Star from Indianapolis, Indiana • Page 54

THE INDIANAPOLIS STAR THURSDAY, APRIL 16, 1981 PAGE 5 Stokely board elects new chairman 0JLA2 1 nil iwilM.Jl BINFORD i 111 PL MILLER PAIXE William Stokely III has been elected chairman and chief executive officer of Stokely-Van Camp effective June the Indiana polis based food processing company announced Wednesday He will replace Alfred J. Stokely, who will become chairman of the finance committee of the Stokely board of directors Alfred Stokely has been chairman of the company since 1978 and chief executive officer since 1965. The board also promoted Leonard J. Delehanty to the post of president to succeed William Stokely. Delehanty has been vice-chairman of the board for three years.

William Stokely. 40, is first cousin, once removed, to Alfred Stokely, 65. The company does not disclose how much of its stock is held by the Stokely family. Officers, directors and their immediate families own about 13 percent of the With the job done, Binford steps down Stokely Delehanty to climb? relating the prices for each of our serv--ices more directly to the costs of provid-' ing that service," Brown said. "That means, among other things, that long distance service must be relieved of the burden of contributing to the support of local prices.

"Deprived of that support, local prices will have no place to go but up farther and faster than inflation would in any case make necessary." Columbus chosen for combine plant Money, jobs and people Alfred Phone bill Houston (UPI) The chairman of American Telephone and Telegraph Co. said Wednesday he expects the price of local phone service to rise faster than the rate of inflation. Speaking to shareholders at the company's annual meeting, Charles Brown said rates would increase in response to competitive conditions "ordained by regulators and by the courts." "We must move in the direction of OOXO T. MUS NOG Snii)9 Sufaudory ei (WColb 0O-3I3-JMO Cy 411 Mw WVW IIMTTEO JHCI MUILE For Selected Stores Officts Shops' 7 "SHCN CENTER Call Earl lubkvpr UT-ai-Rli WANTED 6 BOX SEATS KENTUCKY DERBY PAY PREMIUM PRICE 356-8054 4102 I. Washington 4904 Century Mb4 William Stokely IN We a "Talk We buy IBM-System38 YOUR FUTURE? can help you convert at Guaranteed Fixed Cost! (317) 849-9854 to us, we speak your language" stock.

At the same time. Stokely announced consolidation of several of its operations into a new U.S. Grocery Products Group. The group will oversee canned food, frozen food and container manufacturing operations and will be responsible for such Stokely brands as Van Camp's. Gatorade, Stokely's Finest and Pirtsweet.

Robert L. Rice, senior vice-president of Stokely, will serve as president of the new group. The new group "pulls together a number of small divisions dealing In grocery product," said David Zoeller. assistant treasurer of the firm. "It' a move to use, our support functions more effectively and eliminate some duplication of functions." The reorganization will have no immediate impact on the company's manufacturing operations, Zoeller said.

Business Finance M. Mutz, who is director of commerce, joined Crusinberry Wednesday in making the announcement from the governor's office. Mutz said present and planned state programs designed to encourage new industry to locate in Indiana will direct $1.2 million in state money toward training new workers for the firm and toward plant site development. Also, Columbus officials are expected to grant the firm tax abatement on improvements it makes to the site. The new Claas facility will employ 65 workers when it opens and the major expansion is scheduled for 1983.

Most of the new workers will be hired from the Columbus area. IT WILL BE the first combine manufacturing plant in Indiana and is expected to not only boost employment in Columbus but also create more work for firms that will be supplying the plant materials, Orr observed. Crusinberry said Gaas' ultimate investment in the Columbus plant will be 20 million. Orr said the state investment in attracting Claas should be repaid within a few years through taxes on the plant operation and new payrolls, plus increased business by suppliers. Firms announce merger plans Excepticon Inc.

and Retirement Living Inc. have announced an agreement in principle for the merger of their businesses. RLI owns and operates retirement and nursing homes in Delaware and South Carolina. According to terms of the agreement, Excepticon will exchange $9.50 in cash, $4 in 10 percent six-year notes and two warrants to purchase Excepticon shares at $8 a share within five years, in exchange for each RLI share. The warrants will be redeemed by Excepticon for $2.75 each if they are not exercised within five years.

The proposal is subject to execution of a definitive agreement which must be approved by the Excepticon board of directors and the directors and shareholders of RLI. Excepticon, an Indianapolis and Lexington health care provider, recently merged with Indianapolis-based Mutz Corp. mske renting your bast in office furniture. GOE3X Furniture Rental By MIKE McNAMEE The SUr't Business Editor After five tumultuous years. Thomas W.

Binford is ready for a change. There's time to step up, and a time to 'step down," the chairman of Indiana National Corp. said Wednesday. "Five years ago, it was time to step up and do something. Now, it's done." What Binford did was help Indiana National turn itself around.

The holding company, owner of Indiana's oldest and second largest bank, was foundering in 1976. when Binford was asked to take off his academic robes and become INC's chairman. Although he had no professional banking experience, he had whattone outside expert called "a case study in turnaround management." Tiisoughout those five years, Binford maintained that his goal was to build up Indiana National's management, to set the company on a firm footing and "to work myself out of a job." AFTER INC'S annual stockholder meeting on April 28, that goal will be realized. The corporation's board announced Wednesday that Binford will relinquish his job as chairman and chief executive officer, staying on as an INC director and chairman of the executive committee of the board. Thomas M.

Miller, Binford's chosen and well-groomed right-hand man, will succeed him; Miller will be chairman and chief executive officer of both INC and Indiana National Bank. Andrew J. Paine currently president and chief operating officer of the bank, will be named a vice-chairman of the corporation's board. After the announcement, Binford discussed his new role in Indiana National's future. "This is by far the best arrangement," he said.

"It gives total responsibility and visibility to the CEO (chief executive officer), which in banking is traditionally the chairman. I had considered retaining the chairman title while giving Tom (Miller) the CEO job, but this is better. It leaves nothing to the imagination." AT THE SAME time, Binford said, his new role as chairman of the executive committee "provides some continuity at the board level." In that post, he will not be responsible for day-to-day management decisions; instead, he'll serve as "point man" for the board, serving as the contact between officers and directors of the corporation. In addition to those duties, formerly held by director Robert A. Efroymson, Binford said he will continue to work with INC's strategic planners on charting the company's future.

What he'll always be known for, however, is how he got Indiana National out of its past troubles. In 197S, Indiana National had too many fingers in too many pies and many of those fingers were getting burned. The 1974-75 recession dragged down the real-estate development, mobile-home financing and leasing subsidiaries which had been formed in a burst of diversification in the early '70s. Earnings fell, and large chunks of money were set aside for possible loan losses. EARLY IN 1976, the Indiana National board decided to jettison some of those operations and reorganize.

It asked Binford, an INC director who was then acting president of DePauw University, to serve as chairman. Binford was known as a fix-up man, having stepped in as A major combine manufacturing plant will open at Columbus in January and is expected to employ about 500 workers and produce 1,000 combines a year by 1984. it was announced Wednesday. The plant will be opened by Claas of West Germany, which is Europe's largest harvest equipment manufacturer. Columbus was selected from 62 Midwest cities by Gaas to locate its new North American assembly plant and headquarters, according to Thomas F.

Crusinberry, Claas of America's vice-president for engineering and manufacturing. THE FIRM will open a regional office in Indianapolis to handle sales and mer-. chandising. Crusinberry said. The new plant will be located in Woodside Business Center, a new Columbus industrial park.

Gov. Robert D. Orr and Lt. Gov. John Indiana business Lr The annual executive night dinner of the Life Insurance Women's Association of Indianapolis will be held at 7 p.m.

Tuesday in the Holiday Inn North. John Burkhart, chairman of the board of the Indianapolis Business Journal, will be guest speaker. The Indiana branch of Bache Halsey Stuart Shields Inc. has scheduled a free seminar on "Investment Advantages of Tax Shelters," at 7:30 p.m. Wednesday at the Holiday Inn North.

For reservations call 317-848-5504. Professional Secretaries Week, sponsored by Professional Secretaries International, will be observed Sunday through April 25. The Atkinson Hotel will sponsor a breakfast at 7 a.m. Monday. The Professional Secretaries Day banquet will begin at 5 p.m.

Wednesday in the Sheraton Inn East. Alvin Fernandes president of the Downtown Merchants Association, will speak. Kikthawenund Chapter of Professional Secretaries International, at Anderson, will hold its secretaries and bosses buffet at 5 p.m. Wednesday in Anderson (Ind.) College Student Center. WRTV news reporter Barbara Boyd will speak.

A discussion on "Telecommunication Trends and Technology" has been scheduled for 3 p.m. next Thursday in the Tea Room at L.S. Ayres Co. by the Telecommunications User Association. The featured speaker will be John P.

Thamert, account executive for Merrill Lynch Pierce Fenner and Smith Inc. mr rat chief steward of the Indianapolis 500-Mile Race to restore its reputation after the the disastrous 1973 "500." Five years later, the turn-around of Indiana National is generally considered complete. The corporation's debt has been reduced ahead of schedule, and 1980 earnings were up sharply. Dividend payments, suspended for three years, have been resumed and even increased. But Binford maintains that those accomplishments are secondary.

"More important, in the long run, is the fact that the corporation now has a management team, experienced and very competent, to carry it into the future," he said. "A team has been developed that's fully capable of meeting any challenge. That's what I'm proudest of." Or, as the No. 2 man soon to be No. 1 put it: "With the performance we've been having, it'd be silly to start making changes now.

"I WOULD NOT anticipate any changes of any significance in policies, organization, procedure or personnel," Miller said Wednesday. "This is just the passing of the baton." As he moves out of INC's management, Binford will be moving out of his corner office on the fifth floor of the INB Tower, i Miller, however, won't be moving in; he prefers his southwest-corner view to Binford's northwest vistas.) Binford said he won't be moving far, however: "I'll probably go back to my old office on the 33rd floor of the tower," where he maintained a consulting business before he became INC's chairman. Beyond that, the 56-year-old Binford said he had "no vocational plans of any sort. I've got a race to run in May, but that's all I know about." The change is not related to reports that Binford is being considered as President Reagan's nominee for the top federal banking job, comptroller of the currency: "The job hasn't been offered, and the conditions that would make the job worthwhile haven't been decided," Binford said. Nor does he have any local political plans, "at least not that anybody's told me about." INSTEAD, BINFORD said he's interested in a period for "unwinding and recharging the batteries.

If anything, I'd like to take some courses or teach a little, be involved with the academic area for awhile. "But I'm more interested in doing it for myself than making a job out of it. I've postponed a lot of things that I've personally wanted to study and think about everything from history to art appreciation and I'd like to catch up on them now." If he plans to accomplish those goals, Tom Binford had better leave his phone off the hook for the next few weeks. His talents are likely to be in demand. 1st in Features, Performance.

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