Bill Allen was the president of the Boeing Company from 1945 until 1968. He also served as the chairman of the Boeing Company from 1968 through 1972. While he was president of Boeing, he made the famous decision in 1952 to "bet the company", when he authorized the building of the Boeing 367-80 which led to the launch of development of the Boeing 707. He again "bet the company" when he commissioned the launch of the Boeing 747. The group of engineers and workers involved in this program up were called "The Incredibles". Allen also participated in launching other legendary planes such as the 727 and 737.