New York--The board of The McGraw-Hill Cos., publishers of Business Week, Aviation Week and other business publications, elected Harold (Terry) McGraw III to the position of chairman, effective Jan. 1. Mr. McGraw succeeds Joseph Dionne, who will remain a director but retire from the position he has held since 1988. Mr. McGraw adds the title of chairman to his current titles of president-CEO of the company. Since Mr. McGraw became president of the company in 1993, McGraw-Hill has quadrupled its market capitalization, Mr. Dionne noted in a statement. Mr. McGraw's great-grandfather, James H. McGraw, founded the company in 1888.