Texas Instruments
In 1951 McDermott, along with Cecil Howard Green, Patrick E. Haggerty, and J. E. Jonsson co-founded Texas Instruments. This was done when the company changed its name to Texas Instruments; GSI becoming a wholly owned subsidiary of the new company. This acknowledged that the company had changed it focus from one primarily devoted to oil exploration to one focused on manufacturing. McDermott was the Chairman of TI from 1951-1957, was Chairman of the Executive Committee of Board of Directors from 1957-1964 and was a Director until his death in 1973. During this period of time, Texas Instruments rose to be one of the world's largest corporations.
Read more about this topic: Eugene Mc Dermott
Famous quotes containing the words texas and/or instruments:
“Fifty million Frenchmen can’t be wrong.”
—Anonymous. Popular saying.
Dating from World War I—when it was used by U.S. soldiers—or before, the saying was associated with nightclub hostess Texas Quinan in the 1920s. It was the title of a song recorded by Sophie Tucker in 1927, and of a Cole Porter musical in 1929.
“The worth of a State, in the long run, is the worth of the individuals composing it ... a State which dwarfs its men, in order that they may be more docile instruments in its hands even for beneficial purposes—will find that with small men no great thing can really be accomplished.”
—John Stuart Mill (1806–1873)