Liggett-Stashower Chairman Resigns; Election Scheduled

CHICAGO–C. Henry Foltz, the chairman of Liggett-Stashower in Cleveland, will resign on Aug. 1 after almost three years in the position.
The agency set an election for a new chairman for early August, during its annual meeting.
Foltz, 63, took over as chairman in November 1997 from David L. Stashower. At that time, the company prepared a succession plan that included Foltz’s retirement. Lig-gett-Stashower will buy out Foltz’s ownership interest in the company, although Foltz will remain on the firm’s board of directors.
Foltz joined the agency of Lang, Fisher & Stashower in 1971.
The agency took its present name upon merging with Carr Liggett 16 years later.
The agency claims billings of $77 million.