Lynn Townsend, center, Chrysler board chairman, and Virgil E. Boyd, right, vice chairman of board, smile as newly named president of corporation. John J. Riccardo, answers a reporter's question during press conference called in Detroit today. It was announced earlier today that Boyd was being moved from president to vice chairman of board and that Riccardo was being elevated from vice president to president of Chrysler. Mr. Townsend said the shuffle would give the automaker "more firepower at the top."

Photo is dated 1970.

Photo measures 10.25 x 8.25 inches.