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For months Chicago's LaSalle Street has buzzed with rumors that stormy, exuberant General Robert Elkington Wood was about to resign as president of Sears, Roebuck & Co. and campaign for public office, possibly the Presidency of the U. S. Sears has a rule that executives must retire at 60; the rambunctious General is 59 and no man to twiddle his thumbs.
Last week, not General Wood, but wan, diffident Board Chairman Lessing Julius Rosenwald resigned. At 47 he retired to his philanthropies and etchings. Sears' directors promptly upped General Wood to the chairmanship, a post to which the retirement rule does not...
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