Chief Executive of Axel Johnson Inc. Plans to Resign.STAMFORD, Conn.--(BUSINESS WIRE)--June 23, 1999-- Paul E. Graf, president and chief executive officer of Axel Axel: see Absalon. Johnson Inc., announced he will resign June 25 to pursue other business interests. Lawrence D. Milligan, vice chairman, will become acting chief executive, succeeding Graf. Antonia Ax:son (ok) Johnson, chairman and owner of Axel Johnson Inc., said, "Paul Graf has provided sound, principled prin·ci·pled adj. Based on, marked by, or manifesting principle: a principled decision; a highly principled person. leadership to our company over the past 10 years. "Under his direction, Axel Johnson Inc. has built substantial shareholder equity and moved from 11 diverse companies to three core business interests. Paul is Paul I, 1754–1801, czar of Russia (1796–1801), son and successor of Catherine II. His mother disliked him intensely and sought on several occasions to change the succession to his disadvantage. a valued friend and associate; we wish him the very best in his new endeavors," she said. Lawrence (Mike) Milligan, 63, is a retired senior vice president of The Procter & Gamble Company. He has been a director of Axel Johnson since May, 1991, and vice chairman since July, 1998. He is also a director of Larscom Incorporated, United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Playing Card, and The Portman Equipment Company. Milligan was graduated from Williams College Williams College, at Williamstown, Mass.; coeducational; chartered 1785, opened as a free school 1791, became a college 1793, named for Ephraim Williams. The Williams campus, noted for its fine old buildings, includes West College (1790), the Van Rensselaer Manor and served in the U.S. Marine Corps. Headquartered in Stamford, Axel Johnson Inc. is a privately owned diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a with operations in environmental products and services, energy, and telecommunications. The company, which generated 1998 revenues of more than $1.1 billion, has approximately 1,650 employees in plants and offices throughout the U.S. For further information, contact: Robert Way, Way & Wood Inc., 15 Stanford Place, Montclair, NJ 07042; tel: 973 744-5051 (collect) or home: 973 744-7285. E-mail: RLWAY41@AOL.COM |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion