History of Sewell Avery in Timeline
Sewell Lee Avery was an American businessman renowned for his leadership at United States Gypsum and Montgomery Ward. He served as president of US Gypsum from 1905 to 1936 and was recruited to revitalize the struggling Montgomery Ward during the Great Depression. Avery successfully restored the company's profitability through significant reforms. Despite being considered a leading Chicago businessman in the mid-1930s, his conservative approach in the post-World War II era, marked by a failure to expand and capitalize on consumer demand, ultimately led to Montgomery Ward losing its competitive edge in the retail market.
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1901: United States Gypsum Company Formation
In 1901, the Alabaster Company became part of the consolidated gypsum concern, the United States Gypsum Company.
1905: Becomes President of United States Gypsum
In 1905, Avery became president of the United States Gypsum Company, marking a significant career advancement.
1905: President of US Gypsum
In 1905, Avery became president of the United States Gypsum Company, marking a significant career milestone.
1912: Lincoln Park Gun Club Founding
In 1912, Sewell Avery founded the private Lincoln Park Gun Club with Oscar F. Mayer, Philip K. Wrigley, and other prominent Chicagoans.
1925: Supports Industrial Museum Idea
As president of the Commercial Club of Chicago, Avery supported Julius Rosenwald's idea for an industrial museum in 1925.
1926: Montgomery Ward Expansion
In 1926, Montgomery Ward had expanded to 10 stores.
1930: Montgomery Ward Expansion
In 1930, Montgomery Ward had expanded to 554 stores.
1931: Joins US Steel Board & Invited to Montgomery Ward
In 1931, Avery was invited onto the board of US Steel by J.P. Morgan & Co. and was also asked to revitalize Montgomery Ward, which was experiencing financial difficulties during the Depression.
1936: Steps down as President of US Gypsum
In 1936, Avery stepped down as president but continued to serve as chairman of United States Gypsum.
1936: Fortune Magazine Feature
In 1936, Fortune magazine recognized Avery as "generally held to be the No. 1 Chicago businessman,".
1939: Rudolph the Red-Nosed Reindeer Written
In 1939, Robert Lewis May wrote "Rudolph the Red-Nosed Reindeer" as a promotional assignment for Montgomery Ward.
April 1944: Removed from Office at Montgomery Ward
In April 1944, due to his refusal to settle a strike, Avery was physically removed from his office at Montgomery Ward by two soldiers under the Roosevelt administration's emergency measures.
1946: Copyrights of Rudolph Returned to May
In late 1946 or early 1947, Avery relinquished the copyrights of "Rudolph the Red-Nosed Reindeer" back to its author, Robert Lewis May.
1947: Copyrights of Rudolph Returned to May
In late 1946 or early 1947, Avery relinquished the copyrights of "Rudolph the Red-Nosed Reindeer" back to its author, Robert Lewis May.
1951: Sears Outperforms Montgomery Ward
By 1951, Sears had more than double the business volume and had surpassed Montgomery Ward in retail stores.
1951: Leaves US Gypsum Company
In 1951, Sewell Avery left US Gypsum Company, where he had served as chairman since 1936.
1954: Resignation as President
In 1954, Avery resigned as president of Montgomery Ward, though the company never regained its former prominence.
1955: Retirement
In 1955, Sewell Avery retired with a fortune estimated at $327 million.
October 31, 1960: Death of Sewell Avery
Sewell Avery passed away on October 31, 1960. He was an American businessman known for his roles at United States Gypsum and Montgomery Ward.
1960: Death and Estate
Sewell Avery died in 1960, leaving an estate of $20 million (before taxes) to his daughters and grandchildren.
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