W.J. Holcombe Elected Chairman And CEO Of Transamerica Delaval
William J. Holcombe has been elected chairman and chief executive officer of Transamerica Delaval Inc., the manufacturing subsidiary of Transamerica Corporation. Announcement of Mr. Holcombe's election was made by Transamerica Corporation chairman and chief executive officer James R. Harvey.
As chief executive officer, Mr. Holcombe succeeds Truman W.
Netherton, who continues as Transamerica Delaval's president. Mr. Holcombe was president and chief executive officer of Transamerica Delaval—then Delaval Turbine Inc.—from 1965 to 1972. He joined the company in 1960. From 1972 to 1975 he was group vice president, manufacturing, of Transamerica Corporation. Most recently, he has been chairman of Teton Inc., a manufacturing company headquartered in Santa Fe Springs, Calif.
Transamerica Corporation has announced plans to divest Transamerica Delaval Inc. as part of a long-term strategic decision to focus on its insurance and financial services businesses. The divestiture of the manufacturing company will be accomplished either through a sale to a third party or through a spin-off to Transamerica Corporation's shareholders.
Headquartered in Lawrenceville, N.J., Transamerica Delaval Inc. is an integrated manufacturing company focusing on instruments and controls, engineered products and services for industrial and military customers. The company has 14 divisions operating in North America and Europe. In 1985, it reported income of $8 million on revenues of $392.9 million.