During the development of the BD-1 there was conflict between Bede and the other shareholders and Bede was removed from the company. Russ Meyer became the new company president at age 34. The company was renamed American Aviation and the BD-1 was re-designed to become the AA-1 Yankee.
In 1972 the company was acquired by Grumman to become its light aircraft division and was renamed Grumman-American. Meyer later went on to become president of Cessna Aircraft.