Lynn A Townsend

Mr. Townsend, an accountant, joined Chrysler as controller in 1957. After becoming Chrysler's president in 1961, Mr. Townsend was credited with strengthening the ailing company by decreasing its overhead expenses, improving its cars and revamping its dealer system. Mr. Townsend graduated from the University of Michigan in 1941 with a master's degree in business administration. Before he joined Chrysler, he worked as an accountant at Touche, Ross, Bailey & Smart, where he audited the books of the firm's major client, Chrysler. Among the four largest American automakers, Chrysler appeared hardest hit by a recession in the 1970's. In 1974, the year before he retired, Mr. Townsend miscalculated the size of the auto market. Sales of new cars plunged and Chrysler was left with thousands of new cars and little cash to pay its bills. To get through, the company cut car prices and closed most of its plants for a month. In April 1975, at Chrysler's annual meeting, investors and laid-off employees pummeled Mr. Townsend with questions and some asked him to resign. He did so unexpectedly three months later at the age of 56,. He is survived by his wife, Ruth; three sons, James, Charles and Richard; and eight grandchildren.