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Irving S. Shapiro papers

Creation: 1964-1981
 Collection
Accession: 1898

Abstract

Irving S. Shapiro (1916-2001) was a lawyer for the DuPont Company and was one of the first people outside the du Pont family to become chief executive of the company.

The papers represent a small fragment of Shapiro's work, primarily the more ceremonial aspects, during his tenure as DuPont Company CEO. It includes letters of congratulation, material related to opposing the attempt by Arab nations to enforce a boycott of companies doing business with the State of Israel, papers regarding the merger of Christiana Securities Company into DuPont, newsclippings and magazine articles, Shaprio's appearance on the Donahue show, and DuPont's response to Ralph Nader's book, The Company State.

Dates

  • Creation: 1964-1981

Creator

Extent

5 Linear Feet

Biographical Note

Irving Saul Shapiro (1916-2001) was a lawyer for the DuPont Company and was one of the first people outside the du Pont family to become chief executive of the company.

He was born on July 15, 1916 in Minneapolis, Minnesota, the eldest of three sons of Lithuanian Jewish immigrants. At the age of eight, his father opened a dry cleaning shop and young Irving helped with the family business from the beginning. Shapiro attended the University of Minnesota, receiving a B.S. degree in 1939 and a Bachelor of Laws in 1941. Shapiro began his legal career in January 1942 at the Office of Price Administration in Washington, D.C., and moved to the Department of Justice in 1948.

Shapiro joined E.I. du Pont de Nemours & Company in 1951, taking a position in the Anti-Trust Division of the Legal Department. He played a major role in the 1957 to 1965 antitrust proceedings under which DuPont was required to divest itself of its stock holdings in General Motors. After the trial ended, he was appointed Assistant General Counsel and placed on the fast track for future promotion. In 1970 he was elected Senior Vice President, a director and member of the Executive Committee, and in 1973 he was named to the new position of Vice Chairman. On January 1, 1974, Shapiro was elected Chairman and CEO of DuPont, succeeding Charles B. McCoy (1915-1995).

Shapiro’s term as CEO saw the company exit from its traditional smokeless powder business in 1978. More importantly, falling demand and escalating raw material costs in the textile fibers industry had a devastating impact on the company’s core business throughout Shapiro’s administration. The company concentrated on shoring up its traditional product lines but also cut some spending on research and development. Nevertheless, it was able to produce a major breakthrough, the high-tensile strength fiber Kevlar. The need to control raw materials at a time of economic instability ultimately led to DuPont’s acquisition of Conoco Inc., the number two domestic oil producer. DuPont further diversified through the merger of Remington Arms and the purchase of New England Nuclear Corporation, a manufacturer of chemicals for nuclear medicine.

During his tenure, Shapiro was also a major participant in arranging the merger of the Christiana Securities Company, the du Pont family holding company, into E.I. du Pont de Nemours & Company. He gained national prominence while serving as the Chairman of the Business Roundtable in 1976 to 1978. Shapiro retired in 1981. Subsequently, he was elected a partner in the law firm of Skadden, Arps, Slate, Meagher & Flom.

Shapiro married Charlotte Farsht (1916-2006) and had two children. He died September 13, 2001 in Delaware.

Scope and Contents

The surviving papers of Irving S. Shapiro are a small fragment. Only six file titles are represented, all dealing with the ceremonial aspects of his role as DuPont CEO.

The first file consists entirely of letters of congratulation written to Shapiro on the occasion of his several promotions.

The second file concerns Shapiro’s activities in opposing the attempt by Arab nations to enforce a boycott of companies doing business with the State of Israel. Shapiro used his position as Chairman of the Business Roundtable to work with the Anti-Defamation League of B’nai B’rith in negotiating a mutually acceptable set of principles and in lobbying for appropriate Congressional and Presidential support. The file includes letters, minutes and reports generated by this effort, along with speeches of prominent legislators in behalf of various anti-boycott bills.

The third file documents Shapiro’s handling of the merger of Christiana Securities Company into E.I. du Pont de Nemours & Company. It includes reports by leading investment bankers engaged to compute an equitable exchange ratio for the two firms’s stock and a 996-page transcript of the merger hearings before the Securities & Exchange Commission.

The fourth file contains newspaper clippings and magazine articles dealing with Shapiro’s activities and with DuPont’s evloution under his management. It includes the transcripts of two interviews with Shapiro, one for the American Jewish Committee and oneby Morgan, Stanley & Co.

The fifth file deals with Shapiro’s appearance on the Donahue show in 1980 and consists primarily of letters from viewers responding to the interview, along with Shapiro’s replies.

The sixth file deals with the DuPont Company’s response to the so-called “Nader Report”, a book titled The Company Stateprepared by Ralph Nader’s staff. The file contains position papers and background reports collected for use in answering queries from stockholders, citizens and the pressand in countering Nader’s charges.

Access Restrictions

No restrictions on access; this collection is open for research.

These records are located in remote storage. Please contact staff 48 hours in advance of research visit at askhagley@hagley.org

Language of Materials

English

Related Names

Subject

Finding Aid & Administrative Information

Title:
Irving S. Shapiro papers
Description rules:
Describing Archives: A Content Standard
Language of description:
English
Script of description:
Latin

Revision Statements

  • 2020: Ashley Williams

Repository Details

Repository Details

Part of the Manuscripts and Archives Repository

Contact:
PO Box 3630
Wilmington Delaware 19807 USA
302-658-2400