Monday, Sep. 02, 1974
Abrasion at Burlington
William A. Klopman, 52, was not the betting favorite to become president of Burling ton Industries; his abrasive personality had made him unpopular with some other executives of the world's largest textile company (annual sales: $2 billion). Nonetheless, Klopman, then head of the apparel-fabrics division, was chosen last April over three other executive vice presidents, largely because he had been running a segment of Burlington that was generating a hearty share of the company's earnings. Indeed, Klopman, a tall, lantern-jawed New Yorker who had helped his father run a family company that Burlington bought in 1956, is known throughout the industry for his relentless desire to wring out maximum profit.
As boss, Klopman has been following the same strategy; among other things, he has been pushing the company's hosiery division to move faster in following a marketing swing out of department stores and into supermarkets and drugstores. In his first quarter as president, ended last June, Burlington posted profits of $27.5 million, about 20% above the same period last year. But the success has brought little harmony in the executive suite; with in a single week this summer, two executive vice presidents, Raymond E. Kassar and George L. Staff, abruptly resigned. Some 20 lesser executives have left or been dismissed in recent weeks.
Klopman, a secretive executive who rarely gives interviews, will not discuss the departures. Few in the industry doubt his ability; the chief question about his presidency is whether he can put together and hold a strong management team.
This file is automatically generated by a robot program, so viewer discretion is required.