Leading casual and dress footwear manufacturer Maxwell Shoe Co on Tuesday announced its founder and director, Maxwell Blum, had died at the age of 77.

The Massachusetts-based company said in a statement Blum, who died on March 10, founded the firm in 1949 and served as its chairman and chief executive officer since its incorporation in 1976 until April 1998 when he retired.

Current chairman and CEO, Mark Cocozza, commented: "Maxwell will be greatly missed and dearly remembered by all members of Maxwell Shoe and the local community in which he was so involved.

"His contributions to the company have been numerous, from founding our business in 1949, to serving as chairman and CEO. We will always remember his positive contribution to our company and community."