NEW YORK Chase Manhattan Corp., which is four weeks away from completing its $33 billion purchase of J.P. Morgan & Co., announced Thursday the membership of the post-merger companys board.
As with the senior executive ranks, Chase directors will have an edge three more seats than Morgan on the 15-member board.
The two companies have moved swiftly to integrate senior management since they announced plans to merge in September. About 5,000 jobs have been targeted for cuts so far in overlapping parts of their investment banking units, where 3,000 cuts had originally been forecast.
In addition to William B. Harrison Jr., Chases chief executive officer, who is to be president and CEO of the new company, the Chase-designated board members are Hans W. Becherer, retired chairman of Deere & Co.; Frank A. Bennack Jr., chief executive of Hearst Corp.; M. Anthony Burns, chairman of Ryder System Inc.; H. Lawrence Fuller, retired co-chairman of BP Amoco PLC; William H. Gray 3d, chief executive of the College Fund; Helene L. Kaplan, of counsel at Skadden, Arps, Slate, Meagher & Flom; John R. Stafford, chairman of American Home Products Corp.; and Marina v.N. Whitman, professor of business at the University of Michigan.
Morgans designees are Douglas A. Warner 3d, the companys chairman, who is to be chairman; Riley P. Bechtel, chairman of Bechtel Group; Lawrence A. Bossidy, retired chairman of Honeywell International; Ellen V. Futter, president of the American Museum of Natural History; Lee R. Raymond, chairman of Exxon Mobil Corp.; and Lloyd D. Ward, former chairman of Maytag Corp.
