General Dynamics announced Sunday that its board of directors has elected Stanley C. Pace to serve as chairman and chief executive of the St. Louis-based company effective Dec. 31, succeeding David S. Lewis, who will retire after serving as chairman and chief executive for the past 15 years.
The company said the election of Pace "completes the orderly transition of management responsibilities" that it announced June 1, when Pace joined the firm as vice chairman.
General Dynamics also announced that Gorden E. MacDonald, executive vice president-finance and administration, has informed the company of his desire to retire at the end of this year. MacDonald's successor will be announced later.
"David Lewis has done an outstanding job in building General Dynamics into the fine company it is today," Pace said. "General Dynamics has the responsibility for a large number of important programs for each of the military services of the United States and for a number of allied nations. More importantly, these products are on schedule, on cost and are performing well in the field, meeting demanding requirements to the services' satisfaction. Lewis leaves a legacy of engineering excellence and quality workmanship that we will build on in the years ahead, and we are fortunate that we will continue to have the benefit of his experience and counsel as a member of the board of directors."
Pace retired as vice chairman of TRW Inc. on May 31, after serving in increasingly important positions with TRW for the past 31 years. Before being named vice chairman in January, 1985, he had served as president and chief operating officer since 1977. He is the immediate past chairman of the National Assn. of Manufacturers and current chairman of the group's executive committee.
Before joining General Dynamics as chairman and chief executive in October, 1970, Lewis was president and chief operating officer of McDonnell Douglas Corp.