Household diversifies into merchandising, manufacturing and transportation.
The board of directors realigns the management structure and creates the office of the chairman of the board. MacDonald is elected to this post and continues as the chief executive officer and president. 1967 Arthur E. Rasmussen is named president. Household expands into revolving credit with the creation of Household Retail Services. 1972 Gilbert R. Ellis becomes president, and Rasmussen is elected chairman of the board.