Aaron Feuerstein is the President and CEO of Malden Mills Industries, Inc. Leading the company founded by his grandfather Henry Feuerstein in 1906, and following in the footsteps of his father Samuel C. Feuerstein, he has managed Malden Mills’ tremendous growth over the past five decades.
Today, under Feuerstein’s direction, Malden Mills, with 3,000 employees, is the largest employer in Lawrence, Massachusetts. Sensitivity to the welfare of his employees and the conviction that those employees are most valued asset have distinguished Feuerstein’s leadership of this $400 million business.
On the night of December 11, 1995, a fire struck Malden Mills, destroying three out of ten of the factory’s century-old buildings. Feuerstein vowed that evening to rebuild the 90-year-old business, and announced that he would pay all his employees for the next 90 days and maintain full health care benefits for 180 days. Today, Malden Mills is one of the world’s most uniquely designed and technical textile mills, with production levels doubled since pre-fire.
Aaron Feuerstein’s actions have swept the nation, earning him the praise of employees, union officials, and Americans across the country. He has been honored by many local and national organizations. His commitment to the welfare of others and his compassion in the face of adversity exemplify the spirit of the Salem Award.