BROWN-FORMAN’S CHIEF MAKES CHAIRMAN

Paul Varga, Brown-Forman's president and chief will also become chairman of the company effective August 1, the company said today. Varga will succeed Owsley Brown II, who hits retirement age in September. Osley will continue to serve on the company's board of directors while George Garvin Brown IV, also a board member and company vice president, will become presiding chairman of board. The move is designed to "reaffirm that Paul Varga is the top executive of the company and is