A sad day in the confectionery world as Tootsie Roll industries long standing CEO and chairman Melvin J. Gordon died at the age of 95. He died Tuesday, after a brief illness. He joined the company in 1952 and after only 10 years he was appointed chairman in 1962. Shares within the company shot up rapidly after the announcement of Melvin’s passing
His wife Ellen R. Gordon has taken over as CEO and chairman of the company. In business this is highly unusual to have an 83 year old as CEO. Tootsie Roll Industries also manufacture Sugar Daddy, Dubble Bubble, Junior Mints and Charleston Chew. Over the years the Gordons have kept the company independent, trying not to consolidate with any other confectioner out there.