Melvin J. Gordon was the CEO of Tootsie Roll Industries, a well-known candy company, serving from 2003 until his passing in January 2015. He held a long tenure at the company, starting in 1952, and was Chairman of the Board...
Melvin J. Gordon was the CEO of Tootsie Roll Industries, a well-known candy company, serving from 2003 until his passing in January 2015. He held a long tenure at the company, starting in 1952, and was Chairman of the Board for over 50 years. Gordon had a Bachelor's degree in Business Administration from the University of Michigan, which helped him navigate the sweets industry. Under his leadership, the company focused on consistent brand strength and financial performance. Gordon did not receive stock options or other equity compensation as he already had a significant stake in the company. In 2014, he earned a total compensation of about $3.3 million, which included a $999,000 salary and a $1 million bonus based on company performance. Notably, he managed to keep his compensation relatively stable despite a changing business landscape. His management style emphasized long-term company stability over flashy profits. Gordon's legacy continues even after his death, impacting how Tootsie Roll operates today. His family remains involved in the company, emphasizing continuity and tradition in leadership.