Milligan Is Named Permanent President and Chief Executive of Axel Johnson Inc. STAMFORD, Conn., Sep 17, 1999 (BUSINESS WIRE) -- Lawrence D. "Mike" Milligan, 63, has been appointed permanent president and chief executive officer of Axel Johnson Inc., according to Antonia Ax:son (ok) Johnson, chairman and owner.
Milligan was named acting chief executive in June, replacing Paul E. Graf, who resigned. "After an intensive search we discovered that our best candidate was already in place," said Ms. Johnson. "Mike's successful career as a senior executive plus his years of service on our board place him in a unique position to lead Axel Johnson into the next century." Milligan retired in 1998 as a senior vice president of The Procter & Gamble Company where he was responsible for worldwide sales. He has been a director of Axel Johnson since May, 1991, and vice chairman since July, 1998. He recently became chairman of Larscom Incorporated (LARS-NASDAQ, the first Axel Johnson subsidiary to become publicly held). He also serves on the boards of United States Playing Card and The Portman Equipment Company.
A veteran of the U.S. Marine Corps, Milligan earned a BA degree from Williams College. Headquartered in Stamford, Axel Johnson Inc. is a privately owned diversified manufacturing and service organization operating in three business areas: the environment, telecommunications, and energy. The company, which generated 1998 revenues of more than $1.1 billion, has approximately 1,600 employees in plants and offices throughout the U.S.
Earnings to be released October 18th with a conference call following the release. Believe company has turned the corner and will start to have progressively more positive things to report after this quarter. Understand Cash in the bank is up about 1 1/2 to 2 million from last report which would put cash per share close to $1.50 per share which makes this stock a steal at current prices. Just my opinion of course