 Beech later became a division of Raytheon and then Hawker Beechcraft before a bankruptcy sale turned its assets over to Textron (parent company of Beech's historical cross-town Wichita rival, Cessna Aircraft Company).Beech Aircraft Company was founded in Wichita, Kansas, in 1932 by Walter Beech as president, his wife Olive Ann Beech as secretary, Ted A.Wells as vice president of engineering, K. K. Shaul as treasurer, and investor C. G. Yankey as vice president.