June 1959. Alan Jensen retired from the positions of joint managing director and alternate chairman in October 1964 though he remained on the board. Richard Jensen "relinquished" his appointment as joint managing director in November 1965 but remained chairman. Following disagreements Alan and Richard Jensen resigned from the board in 1966. Richard retired to Malta and died back in London in September 1977. Alan died in Brighton in 1994. In September 1967 Jensen announced they had been hit by the US car safety regulations which were going to come into force the following January. They expected there would have to be many redundancies resulting from the drop in demand for the Austin-Healey 3000 and Sunbeam Tiger though both had been modified to meet the regulations. At the end of the year they advised their shareholders that Austin-Healey and Sunbeam Tiger contracts had now ended. An American management consultant, Carl Duerr, replaced the chief executive. It was decided that from now on Jensen Motors would be a full-time car manufacturer. In mid 1968 following a disastrous 1967 year Norcros decided to sell their automotive subsidiary whose products "cost about the same as small houses". Current production rate was 12 Interceptors and FFs a week. In 1968 it was bought by a merchant bank William Brandts. The Norwegian-American West Coast car distributor Kjell Qvale became the majority shareholder in 1970 and brought in Donald Healey who was appointed chairman in April 1970 and they brought in a new chief executive in May. They were able to announce the new Jensen-Healey in March 1972. By the end of May the next year 3,356 of the new cars had been manufactured but the factory's performance disappointed the owner and sales volume was mediocre. In October 1974 Kjell Qvale appointed himself chief executive as well as chairman. Production was cut back from 25 to 12 a week to match sales. A Jensen GT was announced in July 1975, a Jensen-Healey with a coupé/estate body then the business's future came under threat which meant redundancy for 700 workers – two thirds of its workforce. A receiver was appointed by the Bank of America in September. Kjell Qvale laid great emphasis on the part played by the unions in bringing about the downfall of the business. The financial pundits said that in his attempt to mass-produce a small sports car Qvale installed production capacity far in excess