He’s currently CEO at Zrii, a Utah-based health and beauty company he founded in 2008. His troubles didn’t end there: In 2005, he and other upper managers agreed to pay out $42 million to settle two shareholder class actions accusing them of fraud and insider trading.įarley’s entrepreneurial spirit didn’t die, though. In 1999, the year after the Chicago article was published, Fruit of the Loom lost $576 million, filed for bankruptcy protection, and fired Farley. But by the late ’90s, the company was bleeding money, and Farley was feeling the ramifications. He was quirky with finances, too: Not only did he rank as the highest-paid executive in Chicago, he also secured tens of millions of dollars in personal loans from the company board. For an interview in 1989 by New Yorker writer Connie Bruck, he sported red briefs and a sweatshirt.
Former employees say it was not uncommon for him to strip down to his underwear in front of staff or wander around the office in nothing but workout shorts. A star athlete as a young man, he has long played up his physique, sometimes flaunting it. president to his questionable work attire:įarley’s ferocious discipline extends to the gym. His success allowed him to behave flamboyantly without consequence, from his 1988 run for U.S. He had acquired the company in 1985 and taken it public in 1987, and share values had increased sevenfold by 1992. Farley,” came at a transitional moment for the Fruit of the Loom CEO and Gold Coast resident. Marc Spiegler’s October 1998 profile of William Farley, “The Remarkable Mr.
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