Virgil Boyd
Virgil Edward Boyd | |
|---|---|
| Born | 8 July 1912 Near Benton, Kansas, U.S. |
| Died | 16 February 2011 (aged 98) Sedona, Arizona, U.S. |
| Occupation | Automotive executive |
| Years active | 1931–1972 |
| Known for | President of Chrysler Corporation (1966–1970), Vice Chairman of Chrysler Corporation (1970–1972) |
Virgil Edward Boyd (born July 8, 1912 – died February 16, 2011) was a prominent American automotive executive who served as president of the Chrysler Corporation between 1966 and 1970, and subsequently held the position of vice chairman from 1970 until 1972.
Early life
Boyd entered the world on July 8, 1912, on a farm near Benton, Kansas and spent his formative years near Blencoe, Iowa. Raised in modest circumstances, his family endured financial hardship when his father lost their farm during the Great Depression. Boyd completed his education at American Business College in Omaha, Nebraska in 1931, after which he began his career in the accounting department at General Motors Acceptance Corporation.[1]
Nash/AMC
In 1937, Boyd took on the role of manager and comptroller at the Omaha branch of Nash-Kelvinator. By 1944, he advanced to manage the company’s central office located in Detroit. Between 1947 and 1954, Boyd owned and operated car dealerships in Sioux City, Iowa and Alliance, Nebraska, initially retailing Nash automobiles before transitioning to selling Buick models. Following the 1954 merger of Nash-Kelvinator with the Hudson Motor Car Company, which resulted in the formation of the American Motors Corporation, Boyd was appointed special assistant to AMC’s executive vice president, George W. Romney. In 1956, he assumed the position of general sales manager for AMC’s Hudson division and later that year was promoted to oversee field sales for Hudson, Nash, and Rambler vehicles. In 1961, Boyd succeeded Roy Abernethy as vice president responsible for automotive sales.
Chrysler
In 1962, Lynn A. Townsend assumed the presidency of Chrysler Corporation amid a scandal involving conflicts of interest and declining sales figures. Shortly after, he appointed Boyd as vice president and general sales manager.[2] Boyd ranked as the company’s third highest-ranking executive, following chairman George H. Love and Townsend.[3] During Boyd’s tenure in sales leadership, Chrysler’s vehicle sales surged from 719,933 units in 1961 to 1,612,321 in 1965. Concurrently, its market share expanded from 10.8% to 15.7%. The network of Chrysler dealerships also increased from 5,600 to 6,600 under his guidance.[3]
Boyd advanced to the position of president in 1966, while Townsend transitioned to chairman and retained his role as chief executive officer.[3] In 1968, Chrysler achieved its highest annual sales up to that point, a success Townsend attributed largely to Boyd’s efforts. However, sales declined significantly the next year. Consequently, in January 1970, Boyd was relieved of his presidential duties and appointed vice chairman—a newly established role focused on civic engagement and consumer relations.[4] Boyd retired from the company on September 30, 1972.[5]
Other work
Beyond the automotive sector, Boyd served as a trustee for Grace Hospital, chaired the board of trustees at Alma College, and held directorships at Parke-Davis and the Budd Company.[1]
Later life
Following retirement, Boyd and his wife relocated to Arizona, initially settling in Litchfield Park before moving to Sedona. He passed away in Sedona on February 16, 2011.[1]
- ↑ 1.0 1.1 1.2 "Virgil Edward Boyd". Arizona Republic. February 21, 2011.
- ↑ Rutter, Richard (October 28, 1962). "A Corporate Profile: Chrysler Turning Onto Comeback Road". The New York Times.
- ↑ 3.0 3.1 3.2 "Executives: Changes at Chrysler". Time. December 9, 1966. Retrieved 27 January 2024.
- ↑ O'Donnell, Laurence (January 9, 1970). "Chrysler Selects John J. Riccardo To Be President". The Wall Street Journal.
- ↑ "Boyd Will Retire Sept. 30 As Chrysler Vice Chairman". The New York Times. June 14, 1972.