C. Russell Feldmann

C. Russell Feldmann (1898 - Greenwich, Connecticut, December 13, 1973) was a prominent American businessman and industrialist known for founding and leading several corporate conglomerates, especially in the electronics, automotive, and defense sectors.^[1] His first company, Winton Engine Company, was sold to Alfred P. Sloan to become a nucleus of the diesel division of General Motors Corporation. His second company Automobile Radio Corporation, rising from Feldmann's 1927 introduction of the Transitone radio, one of the first mobile radio units designed exclusively for installation in automobiles, later led to his formation of National Union Electric Corporation which included non-automobile divisions including Eureka Williams Company, Emerson Quiet Kool, and Napco Plastics and Advanced Science.^[2] Feldmann is also known for his Henney Motor Co, which he partnered with his own National Union Electric Corporation's Exide Battery Corporation, to develop the 1959 Henney Kilowatt, one of the first attempts to commercialize a mass production electric vehicle. ^[3]

C. Russell Feldmann's sister Estella was married to Clessie Cummins, founder of Cummins, Inc., who Estella met through Russell's business dealings with Cummins.^[4]

Perlman v. Feldmann

Feldmann played a central role in the landmark corporate law case Perlman v. Feldmann, arising from the sale of his controlling interest in Newport Steel at a premium to a syndicate of steel users who valued a controlling interest in the entity in order to direct the output of steel. The U.S. Court of Appeals ruled that Feldmann had breached his fiduciary duty to minority shareholders by profiting from a corporate opportunity, setting a precedent in corporate governance law. ^[5]