Changes of the Week

Chicago's camera-making Bell & Howell Co. believes that "youth must be served'' the top jobs. Twelve years ago, Bell & Howell promoted 29-year-old Charles H. Percy into the presidency to shake the company out of its stodgy ways. Percy diversified Bell & Howell's product line, boosted sales from $13 million to $114 million last year. Last week Chuck Percy, now a ripe 41, moved up to board chairman (keeping, however, the title of chief executive officer). His successor is another bright young man in a hurry: Executive Vice President Peter G. Peterson, 34.

A summa cum laude at Northwestern, Pete Peterson went into advertising as a market researcher, soon caught the eye of the research-happy McCann-Erickson agency. He was made a McCann vice president at 27, shortly after became right-hand man to McCann's President Marion Harper (who himself was named to the agency's top spot at 32). Distressed at reports that Bell & Howell was trying to lure Peterson away. Harper three years ago informed top McCann executives that Peterson was his chosen successor. But Peterson ignored the offer, jumped to Bell & Howell when the bait was sweetened to include a huge stock option. As president, Peterson will continue to run Bell & Howell's photo products division, will also concern himself with the company's new electronics subsidiary.

Other changes:

P: Ernest R. Breech, 64, former board chairman of Ford Motor Co., was elected chairman of the board of Trans-World Airlines, although the operating head will continue to be new President Charles C. Tillinghast Jr. TWA also announced a $183 million purchase-and-lease arrangement with Boeing Airplane Co. to boost its jet fleet to 77 planes by the fall of 1962.

P: Leo Schoenhofen, 45, was elected president of Container Corporation of America, succeeding Wesley Dixon, 64, who will remain as board chairman and chief executive officer. Since the death of Container Corp.'s longtime President Walter Paepcke last year, Schoenhofen has been groomed for the top spot, will most likely take over as chief executive officer within the next year if Dixon follows company precedent and retires at 65. Primarily responsible for the development of the six-pack of beer, he was appointed senior vice president in 1954.

P: Frank R. Milliken, 47. was elected president of Kennecott Copper Corp.. succeeding Charles R. Cox, 70, who is retiring.

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