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About: Robert Eugene Allen     Goto   Sponge   NotDistinct   Permalink

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Robert Eugene Allen (January 25, 1935 – September 10, 2016) was an American telecommunications businessman. He was the president of AT&T between 1986 and 1988. He also served as its CEO and chairman from 1988 to 1997. During this period, he incorrectly forecasted the future of the telecom industry and lacked strategic direction; as a result, AT&T suffered severe losses and lost $12 billion in a few months in 1997. 50,000 employees were then laid off. Because of this, Condé Nast Portfolio ranked Allen as the 12th worst American CEO of all time in April 2009.