Teledyne Names Chief Executive in Reshuffling
Teledyne named William P. Rutledge chief executive Monday, part of a management reshuffling in which company founder Henry E. Singleton retired as chairman.
George A. Roberts, chief executive since 1986, was named chairman. Singleton, who founded the Los Angeles-based conglomerate in 1960, stepped down as Teledyne chief executive in 1986 and then retired as an employee of the company in 1989.
Rutledge, 49, was named president in 1990 and continues to hold that title. He joined Teledyne in 1986 after 15 years at FMC Corp. His last job there was as vice president and general manager of the firm’s defense systems international division.
Little is publicly known about Rutledge. Company spokesman Berkley Baker said Rutledge has never been interviewed by the news media in the five years he has worked at Teledyne and could not be made available for comment Monday. Rutledge holds a bachelor’s degree in metallurgical engineering and a master’s in financial management.
In line with Teledyne’s longstanding reticence on publicizing corporate matters, the firm announced Rutledge’s appointment in a terse, four-paragraph announcement made public late Monday afternoon.
Singleton, 74, will remain a director and chairman of the executive committee of the board. Company spokesman Baker said he could not detail what authority Singleton will have as chairman of the executive committee.
Nonetheless, Baker said that Singleton “will remain interested in the company and the largest individual shareholder.” As for Roberts, he added, “This is the first chairman we have had other than Henry Singleton.”
Singleton founded Teledyne after leaving Litton Industries, where he helped pioneer a guidance system that remains at the core of that firm’s business.
