After the death of its CEO, Tootsie Roll rocketed sky high | protothemanews.com

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After the death of its CEO, Tootsie Roll rocketed sky high

Author: newsroom | Published: January 21, 2015

For 53 years Melvin Gordon was the company’s CEO – After his death his 65-year-old wife Ellen Gordon will continue his work

95-year-old CEO Melvin Gordon of chocolate candy company, Tootsie Roll, has passed away. The company’s share price saw a sharp increased following his death. Mr. Gordon was the company’s CEO for 53 years. His 65-year-old wife Ellen Gordon is set to take over his business ventures.

Ms. Gordon is expected to continue the strong growth of the company like her husband.

According to Bloomberg the couple owned 49% of the company.

Following the death of the company’s CEO, shares presented a significant rise of 7.2% to 33.02 dollars while the increase even reached 8%.

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