(BRK.A), (BRK.B)
Rick Medlin, President and CEO of Fruit of the Loom, Inc., passed away of natural causes on November 27, 2016. The entire Fruit of the Loom, Inc. team worldwide, with nearly 30,000 employees, is incredibly saddened by the loss of their sincere and principled leader.
“Rick was a special leader and a special person. He was extremely proud of the progress and success we have shared in the last 6 years,” said the Fruit of the Loom leadership team. “We owe it to his legacy and honor to continue taking this company forward in accordance with his vision. Our thoughts and prayers go out to the Medlin family at this time of loss.”
The company will name an interim CEO in the coming days who will continue to lead the organization with the same core values and integrity established by Mr. Medlin.
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.