Flight Global ranked Egtvedt 2nd behind William McPherson Allen as most impactful Boeing boss.

Egtvedt attended high school in Stoughton, where he played basketball and was a track champion.

[10] Bill Boeing was digging deep into his own pockets to make payroll, the craftsmen on the shop floor were building furniture, and any aircraft manufacturing that was occurring was of other people's designs (the GAX airplanes and Thomas-Morse fighters).

"[3][page needed] Egtvedt convinced Boeing that he had to allow his engineering staff to start designing airplanes again.

[2][page needed] Egtvedt was named chairman of the Boeing Airplane Company in 1935, following the dissolution of United Aircraft and Transport Corporation.

[6][14] Under his stewardship as chairman, Boeing embarked on the sequence of airplane development that has come to define the company: the B-29, B-47, B-52, and finally the first of the 7-series family of jets, the 707, 727, and 737.