L.L. Bean keeps company in the family
L.L. Bean's grandson, Leon Gorman, is retiring as company chairman after more than 50 years as chairman or CEO, but the privately held company is keeping the position in the family. The Maine-based retailer informed employees on Monday that L.L.'s great-grandson, Shawn Gorman, will be the new chairman, underscoring a commitment to family ownership.
Shawn Gorman, who served as a senior executive, said there has been a careful behind-the-scenes transition and that consumers shouldn't notice a change. Leon Gorman, his 78-year-old uncle, is keeping a seat on the board. Chris McCormick, the first CEO from outside the family, retains his position.
L.L. Bean, with more than $1.5 billion in annual sales, recently marked its 100th year.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- U.S. Steel considers temporary shutdown of Minn. plant
- Home prices rise as supply still tight
- Conventional gas, oil drillers seek rules differing from shale industry in Pennsylvania
- Stocks of Pittsburgh-area companies set record in March
- Japan snubs China investment bank
- Internet gambling results ‘disappointing’ so far
- Dominion Resources CEO Farrell made $17.3M in 2014
- 6-year stock market rally still going strong, bulls say
- Pittsburgh region’s unemployment rate stays steady
- Late decline eats into previous day’s stock market gains
- Highmark delays payment to UPMC over in-network issue