Press release -
Klas Balkow Joins Axel Johnson's Board of Directors
Former Axfood CEO Klas Balkow is joining Axel Johnson’s Board of Directors following his election at the Annual General Meeting. With a solid background in retail and the food industry, including many years as CEO of Axfood, Klas Balkow will be a strong addition to the board.
Axel Johnson’s revenue for 2024 amounted to just over SEK 144 billion, with 70 percent coming from food companies within Axfood and Martin & Servera, as well as investments in future food through Novax.
Caroline Berg, CEO and Board Member of Axel Johnson and fifth-generation family business owner:
“As owners, we have closely followed Klas Balkow’s dedicated and successful leadership at Axfood, and we are confident that his knowledge and experience will contribute greatly to the board. He has a broad background in leadership roles within retail and consumer products. Given the significant importance of the food sector to Axel Johnson, Klas’s expertise will be especially valuable to us as we continue to grow our businesses.”
Klas Balkow, newly elected Board Member of Axel Johnson:
“I know Axel Johnson and the owners’ values very well after a number of incredibly fun and exciting years at Axfood. I appreciate the family business’s clear direction and look forward with humility to continuing to contribute to the strong development of Axel Johnson from a board perspective.”
Klas Balkow served as CEO of Axfood from 2017 to 2024. He joined Axfood after nearly ten years as CEO of Clas Ohlson. Prior to that, he was CEO of the Axel Johnson company AxImage and held senior positions at Bredbandsbolaget and within Procter & Gamble in the Nordics and North America.
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Axel Johnson is a leading family business in rapid renewal, focusing on the group's 10/50/50 target. The group companies currently consist of wholly-owned Axel Johnson International, AxSol, Martin & Servera, and Novax, as well as the partially owned publicly listed Axfood (ownership stake 50.1%) and Dustin (ownership stake 50.1%). In 2024, Axel Johnson's net turnover amounted to approximately 144 billion Swedish kronor, and the group companies collectively employ around 29,000 people. Axel Johnson is a family business run by the fifth generation and is owned by Antonia Ax:son Johnson and her family. Axel Johnson is one of four independent groups within the Axel Johnson Group, alongside the real estate company Axfast, the American Axel Johnson Inc., and the management company AltoCumulus.
