Lynn A. Townsend

Lynn Alfred Townsend (May 12, 1919 – August 17, 2000) was an American automobile executive widely known for serving as president, chairman, and chief executive of the Chrysler Corporation.

Early life Townsend was born to Lynn A. and Georgia E. (Crandall) Townsend on May 12, 1919, in Flint, Michigan.

Career While in college, Townsend worked part time for the accounting firm Briggs & Icerman. He also did accounting for the American Motors Corporation. In 1952, he became a partner of the firm.

In 1957, Townsend joined Chrysler as comptroller. In 1959, he became group vice president of international relations and joined the company's board of directors. In 1960, Townsend was promoted to vice president of administration – the number two position in the company. On July 27, 1961, Chrysler chairman and president Lester Lum Colbert resigned amid a conflict of interest scandal. He was succeeded as chairman by George H. Love and as president by Townsend. Love, who worked part-time due to his duties with Consolidation Coal, was the company's chief policy officer and Townsend served as the company's chief administrative officer.

Under Townsend's leadership, Chrysler decreased expenses, overhauled its dealer system, and made improvements to its vehicles.

The bankruptcy of Penn Central in 1970 led to a run on Chrysler Financial's commercial paper. The company was bailed out by Manufacturers Hanover Corporation, who arranged for $410 million in loan credits. On July 4, 1975, Townsend announced he would retire on October 1, 1975.

Death Townsend died on August 17, 2000, in Farmington Hills, Michigan.