Document Lo5Er69geBnwGXg7GY1wZegpz

MINUTES OF MEETING OF THE EXECUTIVE COMMITTEE OF THE GLIDDEN COMPANY Minutes of meeting of the Executive Committee of The Glidden Company held at the office of the Company, 900 Union Commerce Building, Cleveland, Ohio, on Monday, June 6, i960, at 2:00 P.M. The following members of the Committee were present: Dwight P. Joyce B. W. Maxey Alexander D. Duncan Willard C. lighter Robert D. Homer Messrs. E. T. Morris, H. W. Cooper, R. L. Lechner and Arthur Early of the Company's advertising agency, Meldrum & Fewsmith, Inc., and Messrs. P. W. Neidhardt, General Sales Manager; W. D. Kinsell, National Trade Sales Manager; T. H. Turney, Advertising Manager; and R. B. Woodward, Sales Promotion Manager, of the Company's Paint Division attended the meeting at the invitation of the Chairman. Mr. Joyce, Chairman, presided and Mr. Homer, Secretary, recorded the minutes. Mr. Lechner described the Paint Division's Trade Sales national ad vertising plans for the Company's 1961 fiscal year, following which Mr. Duncan submitted the following advertising budget for his Division: Trade Sales National Other National Local Canada (National) General Paint (Local & National) I960 BUDGET $1,1*99,500 246.000 1,750,000 170.000 275,000 $3,940,500 I960 ESTIMATED EXPENSES $1,177,092 232,000 1,730,000 170,000 250,000 $3,559,092 1961 BUDGET $1,1*91,998 284,500 1,750,000 190,000 250,000 $3,966,498 GL0013063 1590 The foregoing budget was, on motion made and seconded, unanimouslyapproved, with the understanding, as in previous years, that the expenditures authorized might he reduced at the discretion of Division management by elimination of certain planned advertising as might from time to time appear desirable. There being no further business to come before the Committee, the meeting was adjourned at 3*00 P.M. GLD0X3064 6/6/60