Evening star., 1933-05-05
YOUNG GIVES Up
OFFICES IN R. c. A.
Says Resignation Complies
With Recent Decree of
Federal Court.
By the Associated Press.

6y tne Associated Press.
NEW YORK. May 5.-Owen D.
Young yesterday resigned as director
and chairman Of the Executive Commit
lea, and As director of the r. c. A.
subsidiary companies, effective at once.
1T Is DONE" Young wrote, "for the
purpose Of complying with the decree
entered In the Federal court in Della
ware which contemplated my resigna-
ton either as director and oficer Of
the General Electric Co. or Of the
Radio Corporation of America on or
prior to May S, 1888.
1T Is q fact that such part as I
took IN the organization of the Radio
corporation OF America was under
taken as q part Of my duty as an ON
activity in the Radio Corporation from
then until now has been justified be-
cause up until the recent distribution of
snares, the General Electric Co. has
always been the largest stockholder of
the Radio Corporation Of America.
Remains with G. Z. Company.
Under such circumstances, it seems
not only logical but my plain duty to
and to resign from the Radio Corpora
ton Of America. Had the Separation
OF the General Electric Co. from the
RADIO Corporation been a voluntary act
IN It's part. the problem presented to
decision."h
The r. C. A. board Of directors, after
re-electing James G. Harbord chairman
OF the board and David Sarnon as
president. accepted Young's designations
with the keenest regret"
young was reelected director and
chairman Of the Board Of General Elec-
tic week or two ago. At the r. g. A.
annual meeting Tuesday he was re-
elected to his posts with that corpo-
ration after Sarnoff had explained to a
questioning Stockholder that Young had
not yet come to q decision as to his fu-
ture corporate connections.
Tne consent decree Of the Federal
Court IN Wilmington, entered several
months ago, required complete sever
ance OF relations between General Elec-
INC ana e. G: A. and set tomorrow as
tne DEAD line for Young's decision as to
which position he would retain.
Severance Is Regretted.
Other portions Of Young's letter Of
resignation said:
One could not have taken such a
large part In the organization of the
Radio Corporation and its SUBSEQUENT
ACTIVITIES as have done without feel
ing great personal satisfaction in its ac-
comPnshments and great admiration for
lts omcers, directors and the many peo-
pie who compose its organization. NV
leaving 1t Is the greatest wrench in nv
anecuonate relationships, in satisfaction
OF things done and in hopes and arnbi-
lions OF things to be done which has
ever occurred in my business life. Hay-
ing said this, it is unnecessary for me
70 add that the welfare of the Radio
corporation will be Of deep interest to
me always and that its continued sue
cess, OF which feel so certain. will be
life" VI iiiS
The resolution of acceptance read:
Resolved, that Mr.. Young's resiena-
tion as a director and as Chairman of
the Executive Committee of the Radio
corporation Of America be and is hereby
accepted by the board of directors with
tne keenest regret and with its thanks
TO him for his long, devoted and Ioyal
services to the company. At the same
Time the directors as individuals desire
10 express to Mr.. Young their Affection
ate friendship and regard and their best
wishes for his health and happiness"
Other officers reelected were: j. r.
McOonough, executive vice president:
Manton Davis, vice president and gen.
eIaI attorney; Otto s. Schairer. vice
president in charge Of the patent de-
partment; George S. De Sousa, treas
urer; Henry A. Sullivan, comptroller:
Lewis MacConnach. secretary; Robert
=. Proppe, assistant secretary.