The Alfred P. Sloan Foundation
Alfred Pritchard Sloan, Jr. was born on May 23, 1875 in New Haven, Conn.
He was head of General Motors (GM) for more than 25 years. He died in
New York City on February 17, 1966.
- He was the son of a coffee and tea importer and raised in Brooklyn, N.Y.
- He earned a degree in Electical Engineering from MIT.
- In 1895, he joined the Hyatt Roller Bearing Company. As president at
age 26, he built up the business as a supplier to the growing American auto
industry.
- Hyatt was later acquired by GM and Sloan became a Vice President.
- In 1923, he became president and CEO of GM.
- Sloan was an "adminsitrative genius." He reformed GM and made it a model
of modern business oganization.
- Under Sloan, GM passed Ford in sales and eventually became the largest
business corporation in the world.
- In 1945, he ceased to be CEO and in 1956, chairman.
In the late 1930's, Sloan endowed the foundation named for him. He supported
various philanthropies, including Memorial Sloan Kettering Cancer Center
in New York City and a center for engineering study at MIT and a school
of management there. And now, the foundation is supporting astrophysics.
Compiled from the Encylopedia Britanicca.