Gifford, Walter S.

AT&T president 1925-48, oversaw tremendous corporate growth & pioneering technology

Price: $60.00 Special Offer - $40.00



Description:
(18851966) President of the AT&T Corporation 1925-1948, Ambassador to Great Britain 1950-53. He graduated from Harvard in 1905, joined the Western Electric Company in Chicago as Assistant Secretary & Treasurer July 1906. After 3 years he became Chief Statistician of American Telephone & Telegraph, a job he held until 1916. During WW I he became Supervising Director of the Committee on Industrial Preparedness of the National Consulting Board, Director of the U. S. Council of National Defense and Advisory Commission, and Secretary of the U. S. Representation on the Inter-Allied Munitions Council. After the war he returned to AT&T and became a Vice President. In 1925, at 40, he became president of AT&T Corporation when existing president Harry Bates Thayer was made chairman of the board of directors. In 1925, he established the Bell Telephone Laboratories as a separate entity which would take over the work being conducted by Western Electric's engineering department's research division. In 1927, Gifford was the first to have a video telephone conversation with Herbert Hoover, then Secretary of Commerce, through AT&T's pioneering technology in television transmission over wire. He was awarded the Vermilye Medal in 1943. During Gifford's 23-year presidency, he was innovative in corporate finance and AT&T experienced tremendous growth. Gifford increased operating revenue from $657M to $2.25B. In 1927, Gifford re-launched his firm's overseas operations and by 1948, 72 countries were linked by wire and radio with AT&T lines. In 1950, he retired as chairman of AT&T (1948-50), having served AT&T for 45 years. In 1922 Gifford was became one of the founding trustees of the Grand Central Art Galleries, an artists' cooperative established that year by John Singer Sargent, Edmund Greacen, Walter Leighton Clark, and others. SP, 10 x 8 b&w glossy bust portrait, AT&T stamp on verso. IMAGE NOTE: blue spot on shoulder is NOT on original item.

Condition: Very good
Type:Photograph






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