Melvin Gordon, Tootsie Roll Chief, Dies At 95
By Chuck Sudo in Food on Jan 21, 2015 7:30PM
Melvin Gordon, with wife Ellen, helmed Tootsie Roll Industries for 53 tears. (Photo credit: Securities and Exchange Commission)
Another titan of Chicago’s rich and storied confectionary history is gone. Melvin Gordon, who served as chairman and CEO of Tootsie Roll Industries since 1962, died in Boston Tuesday after a brief illness. Mr. Gordon was 95.
Tootsie Roll, originally called Sweets Co. of America, was founded in New York by Austrian immigrant Leo Hirshfeld in 1896. The company went on to be publicly traded and survived the Great Depression before flourishing during World War II and the Korean War, where they were air-dropped to soldiers on the front lines. Mr. Gordon spearheaded Tootsie Roll’s move to 7401 S. Cicero Ave. and the company went on to acquire The Candy Corporation of America's Mason Division, Cellas' Confections, the Charms Company, The Warner-Lambert Company, Andes Candies and Concord Confections. Brands in Tootsie Roll’s portfolio include Junior Mints, Dots and Sugar Babies. More than $64 million Tootsie Rolls are made daily.
Mr. Gordon, his wife Ellen (also the company’s Chief Operating Officer and president) and board of directors controlled more than 80 percent of Tootsie Roll Industries' Class B stock, which gave them greater voting power in company decisions. Gordon was very secretive about Tootsie Roll’s financials—the company never held quarterly earnings calls with analysts and released only the bare minimum details in their quarterly financial reports. (Their third quarter 2014 report revealed profits of $45 million on $401 million in sales.)
Ellen Gordon, 83, was appointed as her husband’s successor.