Robert Crandall
Robert Lloyd "Bob" Crandall (born December 6, 1935) is the former president and chairman of American Airlines. Called an industry legend by airline industry observers, Crandall has been the subject of several books and is a member of the Hall of Honor of the Conrad Hilton college. He received an MBA from the Wharton School of the University of Pennsylvania, and an undergraduate degree from the University of Rhode Island.[1] Robert Crandall was raised in Rhode Island.Before the passing of the 1978 Airline Deregulation Act, Crandall was one of the act's loudest opponents.In 1985, Crandall succeeded Albert Casey as American's chairman and CEO.
During the latter period of Crandall's tenure as CEO, investor concern over airline bankruptcies and falling stock prices caused Crandall to remind his employees about the dangers of investing in airline stocks. Known for his candor, Crandall later told an interviewer, "I've never invested in any airline. "I'm an airline manager. I don't invest in airlines. And I always said to the employees of American, 'This is not an appropriate investment. It's a great place to work and it's a great company that does important work. But airlines are not an investment.' " Crandall noted that since the airline deregulation of the 1970s, some 150 airlines had gone out of business. "A lot of people came into the airline business. Most of them promptly exited, minus their money," he said.