| (1900
- 1985) |
| Inducted: |
1975 |
| Region: |
West |
| Industry: |
Transportation
|
|
William M. Allen led Boeing into some of the greatest gambles in U.S. business history. In 1945 Allen was appointed chief executive officer. At that time, Boeing faced cancellation of $1.5 billion in wartime contracts. With careful stewardship, he kept the company on course. Then, in the early 1950s he committed $20 million to the production of the first U.S. jet airliner, the 707. Although he had no customers for this plane, he believed the market would justify his actions. He was right and later spent $1 billion to develop the 747. |
