Universal's 1936 Show Boat (released a little over a month later) became a critical and financial success, it was not enough to save the Laemmles' involvement with the studio. They were unceremoniously removed from the company they had founded. Because the Laemmles personally oversaw production, Show Boat was released (despite the takeover) with Carl Laemmle and Carl Laemmle Jr.'s names on the credits and in the advertising campaign of the film. Standard Capital's J. Cheever Cowdin had taken over as president and chairman of the board of directors, and instituted severe cuts in production budgets. Gone were the big ambitions, and though Universal had a few big names under contract, those it had been cultivating, like William Wyler and Margaret Sullavan, left.

Who became president of Universal after the Standard Capital takeover?