BRIEFCASE.

Byline: -- Staff and Wire Reports

Valley association welcomes leader

VAN NUYS -- Brendan Huffman will formally take the helm of the Valley Industry and Commerce Association tonight at a reception.

The nonprofit business group will welcome its new president, late of the Los Angeles Area Chamber of Commerce, at the Valley Corporate Community Center along with other local business groups. The reception will be from 5:30 to 7 p.m. at 5121 Van Nuys Blvd., 2nd Floor. For more information, please call 310-351-9309.

New CEO named at L.A. hospital

CHA Hollywood Presbyterian Medical Center announced Tuesday that its chief operating officer has been named chief executive officer.

Shawn Bolouki joined the hospital as COO in 2001. He previously was COO and CEO for the LAC+USC Healthcare Network, which operates the largest trauma center in Los Angeles County.

Bolouki has also held executive positions at St. Luke Medical Center in Pasadena and at Community & Mission Hospitals of Huntington Park.

Shelton is named V.P. at DirecTV

EL SEGUNDO -- DirecTV Inc., the El Segundo-based digital television service provider, announced Tuesday that John Shelton has been named senior vice president of Sales and Distribution.

Shelton will be responsible for the management of DirecTV's distribution network and the development of sales programs for its independent dealer network, consumer electronics retailers, the Commercial and Multiple Dwelling Unit segments and special markets.

GM moves Clarke to North America

DETROIT -- General Motors Corp. on Tuesday appointed Troy Clarke president of its North American operations, a position currently held by chairman and CEO Rick Wagoner.

Clarke, who had been president of GM Asia Pacific since 2004, will assume his new role starting July 1, the nation's largest automaker said in a statement.

Clarke, 51, will run day-to-day operations of GM's biggest sales region and help with the company's restructuring. Wagoner has been doing the job since April 2005.

Engelhard agrees to BASF takeover

NEWARK, N.J. -- Chemical company Engelhard Corp. abandoned months of resistance Tuesday and agreed to a $5 billion takeover from German rival BASF AG.

Engelhard's management decided to back BASF's twice-sweetened offer of $39 a share for the Iselin, N.J.-based company and will recommend that its shareholders accept it, the companies said.

Including debt, the deal is worth about $5.6 billion. BASF has said the deal would create a world player in chemical products such as pigments and catalysts. Engelhard pigments are used to give color to products such as autos, plastics, paper and ink. Its catalysts are used to further chemical reactions in making a broad range of products, from petroleum to detergent.

Engelhard said it will write to shareholders ``shortly'' urging them to accept.