preSaveAction not working in sharepoint

I have the following java script code which I want to take the text value of the 'Team member Name' field and update the 'Title_' field in a sharepoint list using the PreSaveAction function.
The "Team Member Name' field is a people picker lookup field.
Cannot get it to work

<script src="http://legacy.crgt.com/SiteCollectionDocuments/jquery-1.3.2.min.js" type="text/javascript">
</script>
<script type="text/javascript">
$(document).ready(function() {
$("input[title=Title_]").parent().parent().parent().hide();
function PreSaveAction() {
var _name = $("div[title='Team Member Name']").text();
$("input[title=Title_]").val(_name);
return true;
}
});
</script>