| Title | CEO |
| Start Date | 1980-00-00 |
| End Date | 1988-00-00 |
| Executive | yes |
| Notes | Wearly retired in 1980 and Thomas Holmes, a 30-year employee, took over as CEO. Holmes convinced Clyde Folley, a member of Price Waterhouse's governing board who had worked on the IR account, to become chief financial officer. The two executives faced the global recession and resulting fall in earnings and sales, especially of oil drilling and construction equipment. Overall in 1983 IR lost $112 million, the first loss it had suffered since the 1930s. |