Aaron Feuerstein Essay

1886 Words 8 Pages
Aaron Feuerstein In this paper I will discuss Aaron Feuerstein, the third-generation president and CEO of Malden Mills Industries, Inc., who leads the Lawrence, Massachusetts business with his father’s and grandfather’s values: kindness, justice and charity. He does this through his charismatic leadership and vision, which binds his employees together into realizing and achieving the same goal. I will show exactly what makes him a leader in the modern business setting and explain why a leader’s vision is important in defining a true innovator, effective manager and charismatic leader.

Feuerstein and Malden Mills had a history of taking care of its employees. Workers’ salaries average $12.50 an hour compared with the textile
…show more content…
In return, employees will feel useful and are placed in a position to self-actualize or attain one's potential. When Feuerstein was asked what sets him apart from other CEO's, he responded: "The fundamental difference is that I consider our workers an asset. Not an expense. I have a responsibility to the worker, both blue-collar and white-collar, I have an equal responsibility to the community. It would have been unconscionable to put 3000 people on the streets and deliver a deathblow to the cities of Lawrence and Methuen. Maybe on paper our company is worthless to Wall Street, but I can tell you it's worth more. We're doing fine."

"Other CEOs feel I'm sort of a stupid guy who doesn't know what to do with his excess money," he says. “The quality of Polartec is what I'm selling. By treating the people the way I'd want them to treat me, they make that quality. When you do the right thing, you'l1 probably end up more profitable than if you did wrong."

Feuerstein did not throw his money away. It was a well reasoned and sound leadership decision to invest millions in Malden Mills’ most critical asset, its workers. The contrast between this Feuerstein and the currently celebrated CEOs making 30, 60 or 100 million dollars a year by eliminating jobs and moving plants is simply astounding. How much are you willing to wager that every company that closed a plant in recent years to boost
Open Document