Alfred P. Sloan
Born 1875 · Age 150
American business executive and philanthropist; longtime president, CEO and chairman of General Motors; founder of the Alfred P. Sloan Foundation; author of My Years with General Motors.
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Life & Career Timeline
Born in New Haven, Connecticut
Alfred Pritchard Sloan Jr. born to Alfred P. Sloan Sr. and Katherine Mead Sloan in New Haven.
Entered Brooklyn Polytechnic Institute (prep course)
Attended Brooklyn Polytechnic Institute, completing the college-preparatory course (began schooling there around age 11).
Matriculated at MIT in electrical engineering
Admitted to Massachusetts Institute of Technology (MIT) to study electrical engineering after initial delay for age.
Joined Delta Upsilon fraternity (at MIT)
Became a member of the Delta Upsilon fraternity while attending MIT.
Graduated MIT (BS Electrical Engineering)
Completed MIT degree in electrical engineering in three years; youngest member of his graduating class.
Started career at Hyatt Roller Bearing Company (draftsman)
Took a draftsman position at the Hyatt Roller Bearing Company after graduating from MIT.
Left Hyatt briefly for refrigeration startup
Resigned from Hyatt to work for a refrigeration company (the company later folded after the owner's death).
Married Irene Jackson
Married Irene Jackson of Roxbury, Massachusetts. The couple would have no children.
Father bought controlling interest in Hyatt for $5,000; Sloan made president
Sloan persuaded his father to buy Hyatt Roller Bearing for $5,000 and put him in charge; he became president/owner and ran the company.
Quality lesson from Henry Leland at Cadillac
Henry Leland (Cadillac) castigated Hyatt's inconsistent tolerances; Sloan used the criticism to improve manufacturing and gain understanding of mass production.
Hyatt bearings used in Ford Model T in large quantities
Hyatt became a major supplier to Ford's Model T; at times over half of Hyatt's bearings were sold to Ford.
Accepted United Motors leadership; took stock compensation (circa)
Sloan accepted presidency of United Motors and in some arrangements accepted part of his compensation in stock, tying much of his wealth to automotive equities.
Hyatt sold to United Motors / became President of United Motors
Hyatt merged into William C. Durant's United Motors; Sloan became president of United Motors. The sale price to Durant was reported as $13.5 million.
United Motors recorded strong first-year sales
United Motors (under Sloan's leadership) reported net sales of about $33,638,956 during its first year (reported figure).
GM launched executive bonus plan
General Motors implemented an executive bonus plan designed to motivate managers and decentralize operations (plan launched around 1918).
United Motors merged into General Motors; Sloan became GM vice president
United Motors was acquired by General Motors; Sloan was named vice-president in charge of accessories and joined GM's executive committee.
GM 'ladder of success' brand architecture developed (1919–1920s)
Sloan instituted a non-competing pricing/brand ladder (Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac) so buyers could move within GM as incomes rose.
Created General Motors Acceptance Corporation (GMAC)
Sloan and deputies created GMAC, a financing arm that practically invented auto-loan credit systems for buyers.
GM employee savings/stock plan introduced
GM offered employees a savings and guaranteed investment plan in company stock; employees had significant credits to draw on during the Depression.
Introduced principles of decentralized divisions and centralized financial controls
Sloan developed and implemented the GM organizational structure: independent operating divisions with central financial controls and committee decision-making.
European trip with GM executives to evaluate Citroën
Sloan and other GM executives traveled to Europe (July 1920) to evaluate possible acquisitions (Citroën) and discuss restructuring GM management.
Wrote 'Organization Study' and became assistant to Pierre du Pont
Sloan sent reorganization proposals to Pierre S. du Pont; his ideas were adopted and he became an assistant in GM's reorganization.
GM net profit and sales context (pre-Sloan full leadership era)
In 1922 GM made a net profit of $53 million on sales of $464 million (contextual company milestone prior to later Sloan-era expansion).
Became President & CEO of General Motors
Sloan succeeded Pierre S. du Pont as president and chief executive officer of GM and began implementing decentralized management plus centralized financial controls.
Chevrolet overtakes Model T era; annual model changes introduced
By 1927 the Ford Model T era ended and Chevrolet took the low-priced field; GM pushed annual styling/model changes and 'ladder of success' brand architecture in the 1920s.
GM acquired Adam Opel (Germany)
GM purchased Germany's Adam Opel company, expanding GM's international footprint.
Sloan Fellows executive education program at MIT launched (sponsored)
The world's first university-based executive education program, the Sloan Fellows, began at MIT under Sloan sponsorship (program origins c.1931).
Founded the Alfred P. Sloan Foundation
Organized the philanthropic Alfred P. Sloan Foundation to fund research, education, science, and management programs.
Involved in founding the American Liberty League (behind the scenes)
Reportedly one of the central behind-the-scenes founders of the American Liberty League opposing parts of the New Deal; donated to the Sentinels of the Republic ($1,000 noted).
Invested in internal espionage to monitor labor unions (practice revealed)
GM under Sloan invested in an internal undercover apparatus to gather information on union activity; proved limited value during open strikes such as Flint sit-down.
Flint sit-down strike and UAW recognition
The massive Flint sit-down strike challenged GM; espionage proved ineffective and the strike legitimized the United Auto Workers as GM worker representative.
Elected Chairman of General Motors' Board
Sloan relinquished the presidency to assume the chairmanship of GM's board (he later ceased to be CEO in 1946).
Allegations of GM/Nazi collaboration surface (August 1938 context)
Senior GM executive James D. Mooney received the Grand Cross of the German Eagle (Aug 1938); allegations later arose regarding Opel and GM business with Nazi Germany.
Sloan defended continued GM operations in Germany to shareholders
Sloan told shareholders in 1939 that GM's industrial production in Germany was sound business practice and said management must conduct itself 'as a German organization'.
GM became major US military supplier in WWII
Under Sloan-era management, GM became the largest supplier to the U.S. military during World War II, producing engines, vehicles and more for the war effort.
Published 'Adventures of a White Collar Man'
Sloan published an autobiography/management book: Adventures of a White Collar Man.
Predicted postwar economic boom
Sloan argued against predictions of postwar depression, forecasting pent-up demand and a postwar boom—predictions subsequently validated by the U.S. economy.
Joined with Charles F. Kettering to establish Sloan-Kettering Institute (approx.)
Sloan and GM executive Charles F. Kettering jointly funded the Sloan-Kettering Institute for cancer research with a reported donation of $4 million (year not specified in sources; circa mid-1940s).
Stepped down as Chief Executive Officer of GM
Sloan ceased to be GM's chief executive in 1946 (he remained chairman until 1956 and then honorary chairman).
Correspondence with President Truman on highway safety program
President Harry S. Truman wrote to Sloan concerning broadcasting industry's cooperation in a highway safety program (Dec 3, 1948).
Major philanthropic donations to medical and educational causes (cumulative)
Over his lifetime Sloan made large gifts to MIT (Sloan School), Memorial Sloan-Kettering and others; GMA Archive notes >$67M to Sloan-Kettering via foundation and personal estate (inflation-adjusted figures reported separately).
Received Hundred Year Association of New York's Gold Medal
Awarded the Hundred Year Association of New York's Gold Medal for outstanding contributions to New York City.
MIT opens School of Industrial Management (later Sloan School)
MIT opened its School of Industrial Management (renamed the Alfred P. Sloan School of Management), supported by Sloan's philanthropy.
GM sales and profits peak in Sloan-era metrics (1955)
In Sloan's last full year as Chairman (1955), GM reported profits of $1.19 billion on sales of $12.4 billion, reflecting the company's growth under his policies.
Established Sloan Institute of Hospital Administration at Cornell
A Sloan Foundation grant established a Sloan Institute of Hospital Administration at Cornell University (1955).
Sloan Foundation financed 'Yankee Dood It' cartoon
The Alfred P. Sloan Foundation funded the 1956 Warner Bros. cartoon Yankee Dood It, promoting mass production.
Retired as Chairman of General Motors (named Honorary Chairman)
Sloan retired as chairman of GM on April 2, 1956, and was named Honorary Chairman; he retained the honorary title until his death.
Sloan Fellows Program established at Stanford (foundation grant)
A Sloan Fellows Program was established at Stanford Graduate School of Business (1957) with Sloan Foundation support.
Fortune estimates Sloan's fortune at $200–$400 million
Fortune magazine (1957) listed Sloan among wealthy Americans, estimating his personal fortune between $200 million and $400 million.
GM scale by 1962 (legacy metric)
By 1962 GM had ~600,000 employees, ~1,000,000 shareholders, assets ~$9.2B, sales ~$14.6B and profits ~$1.46B — metrics cited when discussing Sloan's legacy.
Completed memoir 'My Years with General Motors' (circa)
Sloan completed his memoir and management treatise My Years with General Motors around the early 1960s (finished ~1956; held up by GM legal staff).
Published 'My Years with General Motors'
After nearly a decade delay by GM legal review, Sloan's memoir My Years with General Motors was published in 1964.
Sloan Fellows program launched at London Business School (foundation support)
A Sloan Fellows Program was established at the London Business School (1965) supported by Sloan/Foundation funding.
Alfred P. Sloan Foundation assets reported at ~$305M (circa)
By 1966 the Sloan Foundation reportedly had assets of about $305 million (early posthumous foundation milestone cited in sources).
Died in New York City
Alfred P. Sloan Jr. died February 17, 1966, in New York City at age 90.
Inducted into Junior Achievement U.S. Business Hall of Fame (posthumous)
Sloan was inducted posthumously into the Junior Achievement U.S. Business Hall of Fame in 1975.
Sloan Foundation assets ~$1.5 billion (reported)
The Alfred P. Sloan Foundation's assets had a market value of over $1.5 billion in 2005 (organizational milestone referenced in sources).
Sloan Foundation granted $3M to Wikimedia Foundation (one of largest WMF grants)
The Sloan Foundation made a $3 million grant to the Wikimedia Foundation (one of three $3M grants noted as among WMF's largest).
Sloan Foundation assets reported at ~$2.38 billion
For year ending Dec 31, 2023, the Alfred P. Sloan Foundation's total assets had a market value of about $2.38 billion (organizational milestone).
Key Achievement Ages
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