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From Times Staff and Wire Reports
Big Chrysler Investor Wants Lutz to Follow Iacocca: Chrysler Corp.’s second-largest stockholder is pushing the auto maker to name President Robert Lutz as Chairman Lee A. Iacocca’s successor. “Our posture is that the company’s working beautifully in a product sense, and that reflects directly on Lutz,” said Charles Freeman, Wellington Management Co.’s senior vice president. Wellington Management owns 8.9% of Chrysler. California billionaire Kirk Kerkorian owns 9.8%. Iacocca will retire this year.