F. Ross Johnson
F. Ross Johnson | |
|---|---|
| Born | Frederick Ross Johnson December 13, 1931 |
| Died | December 29, 2016(aged 85) Jupiter, Florida,United States |
| Education | University of Toronto(M.B.A.) University of Manitoba(B.Com.) |
| Occupation | Businessman |
Frederick Ross Johnson,OC(December 13, 1931 – December 29, 2016) was aCanadianbusinessman, best known as the chief executive officer ofRJR Nabiscoin the 1980s.[1]
Early life and education
[edit]Born inWinnipeg,Manitoba,on December 13, 1931,[2]into a lower-middle-class family, Johnson used a military cadet scholarship program to attend theUniversity of Manitoba,where he graduated in 1952 with aBachelor of Commercedegree and was President of thefraternityPhi Delta Theta.He went on to earn anMBAfrom theUniversity of Torontoin 1956.
Career
[edit]Johnson first worked as anaccountantforGeneral ElectricinMontrealand as a vice-president ofmerchandisingfor theT. Eaton Companybefore being named president ofStandard BrandsLtd.[3]
Johnson negotiated amergerbetween Standard Brands and Nabisco with Nabisco CEOBob Schaeberlein 1981. Soon after, Schaeberle left Nabisco, and Johnson took the helm, replacing many Nabisco executives with ones from Standard Brands. After growing restlessness, he went into talks that led to the Nabisco-RJ Reynolds merger in 1985. He was soon appointed president andCEOofRJR Nabisco.Johnson appeared on the December 5, 1988,cover ofTimemagazineunder the headline "A Game of Greed".[4]After dismal stock performance following the1987 stock market crash,Johnson decided to put the company in play. Originally, he planned to execute a management-ledleveraged buyoutwithShearson Lehman Hutton.Events quickly escalated into a takeover contest.
He was extensively profiled in the bookBarbarians at the Gate: The Fall of RJR NabiscobyWall Street JournalcolumnistsBryan BurroughandJohn Helyar,and inthe movie of the same namemade forHBO.In the film, Johnson was portrayed byJames Garner.
Following the RJR Nabisco takeover byKohlberg Kravis Roberts & Co.led byHenry Kravis,Johnson started his own private investment company, RJM Group, Inc., based inAtlanta, Georgia.Until he resigned in March 2009, he was chairman ofAuthentiDateHolding Corp., a United States publicly traded company. He served on the board of directors of several companies includingBentley Pharmaceuticals.Johnson also served on the advisory board ofPower Corporation of Canada.
Personal life
[edit]Johnson maintained homes inLa Jolla, CaliforniaandJupiter, Florida.[5]
He was made a trustee ofDuke Universityand served on the advisory councils of several universities. The Distinguished Visitors Program at theUniversity of TorontoCentre for the Study of the United States was endowed by Johnson in 2001.
Death
[edit]Johnson died on December 29, 2016, at his home inJupiter, Florida,seventeen days after his 85th birthday[1]from pneumonia.
References
[edit]- ^abHagerty, James."Former RJR Nabisco CEO F. Ross Johnson Dies at Age 85".The Wall Street Journal.
- ^"F. Ross Johnson, Symbol of '80s Corporate Excess, Dies at 85".The New York Times.December 31, 2016.RetrievedDecember 31,2016.
- ^Doron P. Levin (October 21, 1988)."F. Ross Johnson. A Chief Willing to Gamble".The New York Times.
- ^"A Game of Greed".Time.cover.RetrievedMarch 21,2019.
- ^Parker, Charles Whatley; and Greene, Barnet M."F. Ross Johnson",Who's Who in Canada: An Illustrated Biographical Record of Men and Women of the Time, Volume 73,p. 421, International Press Limited., 1982.ISBN0-919339-02-6.Accessed June 28, 2011. "Residence: 210 East Mountain Road, Sparta, New Jersey 07871".
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