Alfred P. Sloan Jr.(redirected from Sloan, Alfred P.)
Alfred P. Sloan Jr.
An American businessman (1875-1966) who was president and chairman of the board for General Motors. He began his career as president of Hyatt Roller Bearing, which made ball bearings. In 1916, this company merged with United Motors Company, which became part of GM two years later. Sloan remained at GM for the rest of his career and became president in 1937. Sloan is believed to have been the first to change designs of car models from year to year. This concept became known as planned obsolescence. He was also a noted philanthropist; however, he was accused of assisting Nazis during World War II.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved