LL Bean’s Grandson Retiring 

LL Bean’s grandson is retiring as company chairman of the company and will be succeeded by his great-grandson.78-year-old Leon Gorman has headed up LL Bean for more than 50 years.His nephew, Shawn Gorman, will take over as chairman.Chris McCormick, the first CEO of the company from outside the family, retains his position.The company began in 1912 when LL Bean sold rubber-soled hunting boots.It sells a lot more than that now and does more than $1.5 billion dollars in annual sales.