[1] The family moved to Beverly Hills, California in hopes the climate would improve his mother's asthma.
[3] He earned a Bachelor of Arts degree from the University of Michigan in 1940 and a master's in business administration from the same school the following year.
[4] On July 27, 1961, Chrysler chairman and president Lester Lum Colbert resigned amid a conflict of interest scandal.
[6][7] Under Townsend's leadership, Chrysler decreased expenses, overhauled its dealer system, and made improvements to its vehicles.
Love stepped down as chairman in 1966 and Townsend succeeded him while remaining the company's chief executive.
[10] However, the 1973 oil crisis and 1973–1975 recession caused car sales to plummet, which compounded Chrysler's financial woes.