Axel Ax:son Johnson; Retired Swedish Industrialist

Axel Ax:son Johnson, 77, who headed Sweden’s biggest family-owned conglomerate, the Axel Johnson Group and Nordstjernan AB, until his retirement in 1979. The two industrial groups, with operations in construction, shipping, stainless steel and trading, have annual revenues of $5 billion and 22,000 employees. The empire was founded by Johnson’s grandfather, Axel, in 1873 as a trading company. The company gradually diversified into two groups which are still controlled by the family. Johnson’s only child, Antonia Ax:son Johnson, owns 100% of the Johnson Group, which consists of Axel Johnson AB in Sweden and Johnson Inc. in the United States. Their combined annual revenues are about $2.5 billion. Johnson’s brother Bo Ax:son Johnson is Nordstjernan AB’s board chairman. The family maintains a Swedish tradition of spelling their middle name in an abbreviated form of Axelson. At his vacation home in Naples, Fla., on Feb. 12 of unannounced causes.