DAY OF YOUNG MEN.

Taranaki Daily News, 25 March 1919, Page 6

DAY OF YOUNG MEN.

MR. HENRY FORD RETIRES. Now York, Jan. 1. Edsel Ford, aged 24, son of Air. Henry Ford, has been elected president of the Ford Motor Company at a salary of £30,000 yearly, in succession to his father, who announces 'his own retirement from active direction of the company in order to give younger men a chance. As«his last official act, the elder Ford raised the minimum daily wage throughput his factories to 245, displacing tiio previous minimum wage of 20s made effective four years ago. This minimum applies to 28,000 employees, while there are-23,000 others whoa are receiving more'than this sum. ° Mr. Ford in a statement savs:— "This is the age of young men, and I want to show the world that I stand at the hack of my belief I hat young men are entirely capable of directing big businesses." Mr. Edsel Ford will thus have full executive control of the Ford motor-car production, which represents an investment of £2(1,000,000. Mr. Henry Ford will concentrate his own genius 'on the furtherance of the production of tractors, and will give some of his time to a weekly periodical he recently began to publish. B Mr. Henry Ford, the well-known automobile manufacturer, was born at Greenfield, Michigan, on July 30, 1863. Before he organised the great company which bears his name he was chief engineer of the Edison Illuminating Company. In the year in which the war began he announced his plan of profit-sharing, which in his personal application involved the distribution of, £2,000,000 annually amongst his eaploysea