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Allegheny Teledyne’s Chief Resigns

Times Staff and Wire Reports

Allegheny Teledyne Inc. said Chief Executive and President William Rutledge resigned after six months on the job, citing personal and family reasons. The Pittsburgh-based company named Chairman Richard Simmons CEO and president, effective immediately. Rutledge was chairman and chief executive of Teledyne Inc. until Allegheny Ludlum Corp. bought the Los Angeles-based company for $2.25 billion in stock in August and named him chief executive of the combined company. Rutledge’s abrupt departure isn’t a serious blow to the maker of specialty metals, aviation and electronic products because other executives are capable of steering the firm’s diversified businesses, analysts said. A company spokesman said Rutledge wasn’t forced out.


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