LOS ANGELES COUNTY - News from July 2, 1986
John W. Jorgensen, 60, son of the founder of Earle M. Jorgensen Co. of Los Angeles, replaced his 88-year-old father on Tuesday as chief executive of the steel and aluminum distributor.
Earle M. Jorgensen, who began the company 64 years ago, remains chairman of the board and chairman of the executive committee. John Jorgensen retains the titles of president and chief operating officer, which he has already held for 19 years.
A spokesman for the company said the change “will recognize what’s been going on for some time. John has been performing the duties of chief executive, and Earl just decided he might as well have the title.”
John Jorgensen joined the company as a trainee after graduating from Pomona College in 1948 and later became assistant to the president, executive assistant to the president and vice president.
The company spokesman said Earle Jorgensen remains “extremely active. He’s in the office every day when he’s in town.”
The company processes and distributes steel and aluminum at 26 plants around the country. Earnings fell 62% in the first quarter, but some analysts expect a slight full-year improvement over last year’s earnings of $9.4 million on sales of $297 million.
