TECUMSEH, Mich. - Kenneth Herrick, 81-year-old chairman of Tecumseh Products Co., has retired from the board of directors after 52 years, the company said yesterday.
He was replaced by his son, Todd Herrick, the firm's chief executive officer. The new chairman is 60 years old.
The elder Herrick has been given the honorary title of chairman emeritus.
Kenneth Herrick, who joined the board in 1951, is the son of Tecumseh Products founder Ray Herrick.
Company officials couldn't be reached for comment.
Tecumseh, whose sales have suffered in recent years because of competition from cheap foreign imports, had revenues of $1.3 billion in 2002. The Fortune 1,000 firm is a leading world manufacturer of compressors for refrigeration equipment, engines for lawn mowers and snow-blowers, and water pumps.
First Published February 28, 2003, 2:50 p.m.