Progressive Savings & Loan Assn., Beverly Hills, announced a restructuring to reduce the size of the board and "make it more effective," according to a company statement. Under the restructuring, Sam Stone, 72 has been appointed chairman, succeeding Willard Clarke, 83 who retired but remains a director. The following were also named to the board: Arthur Shafran, James I. Condie, Michael Adelson, Mary L. Bunker, Hugh Corradini and James Hennis. Additionally, Shafran was appointed vice chairman and Condie was named acting president and chief executive. C.J. Lehman remains chief financial officer and chief operating officer.

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