With his stature in the textile industry already assured, Mr. Cannon was elected chairman of the Board of Governors of the American Cotton Manufacturers Association, in which capacity he served during the postwar years. He also served on the Special Cotton Committee of the American Cotton Manufacturers Institute and became President of the North Carolina Cotton Manufacturers Association as well as serving on the Board of Directors for New York Life Insurance Company.
Despite his expanding professional duties, Mr. Cannon deepened his commitment to his community, region, and state. He became Chairman of the Board of the Cabarrus Bank and Trust Company; Director of the Federal Reserve in Charlotte; a trustee at Davidson College, Duke University, and the University of North Carolina; and a member of the N.C. Highway Commission, the State Parks Commission and the Public Works Commission.
Although Mr. Cannon relinquished the title of President in 1962, he continued as Chairman of the Board and spent at least part of each day at his office. That same year he was awarded the N.C. Citizens’ Distinguished Service Award. He was also named “Man of the Year” in both Concord and Kannapolis. He was honored with an Appreciation Day by the citizens of Kannapolis in 1967.
Mr. Cannon built a remarkable record of personal philanthropy which the Cannon Charitable Interests continue today.