Changes of the Week

David E. Lilienthal, 56, longtime head of TVA and first chairman of the Atomic Energy Commission, became chairman and chief executive officer of newly organized Development & Resources Corp. President of the company, backed by the Manhattan investment banking firm of Lazard Freres & Co., is Gordon R. Clapp, 49, who succeeded Lilienthal as TVA chairman and resigned recently as deputy city administrator of New York City. Development & Resources Corp. will act as a consultant to foreign governments in TVA-type river and land development programs, coordinate other private or public projects such as atomic-energy production in power-short countries.

George Crews McGhee, 43, onetime Rhodes scholar who served 18 months (until 1953) as U.S. Ambassador to Turkey, announced formation of McGhee Production Co., an oil exploration and development firm in Dallas. A longtime oil geologist and independent prospector, McGhee will first look for oil and gas in southern Louisiana, where he discovered the big West Tepetate field. McGhee is also executive committee chairman of Petroleum Reserves Inc., organized last March to buy producing oil properties.

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