Henry F. Phillips (1890-1958)
Henry F. Phillips was a U.S. businessman from Portland, Oregon. The Phillips-head ("crosshead") screw and screwdriver are named for him.
The importance of the crosshead screw design lies in its self-centering property, useful on automated production lines that use powered screwdrivers. Phillips' major contribution was in driving the crosshead concept forward to the point where it was adopted by screwmakers and automobile companies.
An engineer, Phillips was an acquaintance of John P. Thompson, who sold his self-centering design to Phillips after failing to interest manufacturers. Phillips formed the Phillips Screw Company in 1934, and after refining the design himself (US Patent #2,046,343, US Patents #2,046,837 to 2,046,840) for the American Screw Company of Providence, Rhode Island, succeeded in getting the design quickly adopted by industry. One of the first customers, in 1937, was General Motors for its Cadillac assembly-lines. By 1940, 85% of US screw manufacturers had a license for the design. 
Due to failing health, Phillips retired in 1945 and died quietly in 1958.
The Phillips-head design was purposely made to cam out when the screw stalled, to prevent the fastener damaging the work or the head, instead damaging the driver. This was due to the relative difficulty in building torque limiting into the early drivers. (Compare this with the anti-'cam out' designs that are now prevalent from the latter half of the 20th century.)
The American Screw Company was responsible for devising a means of manufacturing the screw, and successfully patented and licensed their method; other screw makers of the 1930s dismissed the Phillips concept since it calls for a relatively complex recessed socket shape in the head of the screw — as distinct from the simple milled slot of a slotted type screw.
The Phillips Screw Company and the American Screw Company went on to devise the Pozidriv screw, which has a design more appropriate to modern electrical screwdrivers than the Phillips.
Information courtesy of Wikipedia.