You are here
Aaron Feuerstein, president and owner, Malden Mills Industries, Inc.
Mr. Feuerstein’s uncommon commitment to his employees and his community was recognized with the Botwinick Prize for Business Ethics. When fire destroyed three buildings in his one hundred-year-old factory complex, he pledged to rebuild and to keep his displaced employees on full-salary during the initial shut-down. Like his grandfather and father before him, Mr. Feuerstein believes that the employees at Malden Mills are its most valued asset. This recent, magnanimous gesture is, in fact, representative of a history of dedication to Malden Mills employees and to the Lawrence, Massachusetts community that has been home to the company for three generations.
Aaron Feuerstein is the president and CEO of Malden Mills Industries, Inc., an international textile supplier of PolartecTM apparel fabrics and home furnishing velvets. Malden Mills is the largest employer in its home city of Lawrence, Massachusetts, with over 3,000 employees and annual sales of $400 million. Feuerstein has earned the praise of Americans across the country, including President Bill Clinton, former U.S. Secretary of Labor Robert Reich, and Massachusetts Governor William Weld, for his dedication to his employees. When Malden Mills was struck by a devastating fire in December 1995, Feuerstein vowed to rebuild the business and announced that he would pay all of his employees for the next 90 days. Approximately 12 months later, 85 percent of his employees were back to work.
Research Insights on Leadership and Ethics
Assistant Professor of Finance and Economics
"Banks in India...the accounts are not well used...This may be because they have to walk the 3km to the bank; or it may be due to other obstacles, such as procrastination.”
Read the Research
Jack R. Anderson Professor of Business
"The industry has developed general principles on which portfolio risk should be decomposed but actually determining the risk contributions can be difficult in complex portfolios.”
Read the Research
Senior Vice Dean and Paul Calello Professor of Leadership and Ethics
"Those in a homogeneous group put much less effort into the task at hand in part because they were more interested in avoiding conflict. Diverse environments allowed people to focus on the task instead of their social relationship."
Read the research
Professor of Finance
“What makes countries rich is how productively they use their resources…Once a (more productive) technology is introduced, do people use it? Why aren’t people using the most improved technologies to begin with?”