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Penn Central Corp., a major manufacturer and defense contractor, named Chairman Carl H. Lindner to the additional position of CEO.
Ronald F. Walker, a director, was elected president and chief operating officer during a meeting of the board. Alfred W. Martinelli, who had been president and CEO, was elected vice chairman.
Lindner also said the company would develop plans for the possible sale or spinoff of its Sprague subsidiary and other electronics units.
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