Smith Gains Another Post at General Foods

General Foods announced that Philip L. Smith, president and chief operating officer, will assume the additional duties of chief executive when James L. Ferguson, 60, steps down from that post and as chairman, effective Jan. 1.

Ferguson, who has served as chief executive since 1973, will continue as chairman of General Foods’ executive committee as well as vice chairman of the board of directors of Philip Morris Cos., which acquired General Foods last November.

A new chairman was not named. A spokesman for General Foods explained that the chairmanship has, on occasion, been left temporarily vacant. The executive change was disclosed at a meeting Wednesday of Philip Morris’ board of directors.

Smith, 52, has been widely perceived as heir apparent to Ferguson and was elected to the board of Philip Morris last year. Smith joined General Foods in 1966 as a product manager in the Maxwell House division. Three years later, he moved to the desserts division, where he rose through the ranks to become divisional executive vice president.

In 1977, he was elected group vice president and president of the Maxwell House division, and he later moved on to become executive vice president-finance and administration. Smith became president of General Foods in 1981.