Walter Johnsen
Walter Craig Johnsen | |
|---|---|
| Born | December 15, 1950 New York City, U.S. |
| Occupation(s) | Businessman, CEO |
| Years active | 1995–present |
| Known for | Chairman and CEO of Acme United Corporation |
| Spouse | Wendy Davies |
| Children | 1 |
Walter Craig Johnsen (born December 15, 1950) serves as the chairman and chief executive officer of Acme United Corporation, a company specializing in cutting, measuring, and safety products tailored for educational, residential, office, hardware, and industrial sectors.
Johnsen became a member of Acme United's board in January 1995 and was appointed CEO within the same year. His tenure saw the company rise to become the foremost scissors brand in the United States and one of the leading ruler manufacturers across North America. Additionally, Acme United is recognized as one of the top three first aid kit producers nationwide.
Early life and education
Johnsen was born in New York City to Walter S. Johnsen, co-founder of Armel Electronics, and Therese Johnsen, a luxury residential real estate agent. His paternal heritage is Norwegian, while his mother's lineage traces back to Denmark.
He completed his secondary education at Ramsey High School in Bergen County, New Jersey. Subsequently, he obtained both a Bachelor of Science and a Master of Science degree in chemical engineering from Cornell University. During his university years, he interned with the US House Banking and Currency Committee, contributing to efforts on a loan guarantee for Lockheed.
In tribute to Frank Rosenblatt, a former professor and mentor who passed away during a boating accident involving Johnsen, he founded the Rosenblatt Faculty Fellow Endowment at Cornell in 2006.
Johnsen launched his professional journey at Pfizer Inc., working as a process engineer and production supervisor within sterile pharmaceutical manufacturing. He earned an MBA from Columbia Business School in 1978.
Career
Following his MBA completion, Johnsen joined Smith Barney where he held several venture capital positions and eventually became Managing Partner overseeing the firm’s private equity operations on the West Coast. He also acted as a general partner for First Century Partnership II and III, early investors in Apple Inc.
In 1986, together with a partner, he acquired Marshall Products, Inc., a Lincolnshire, Illinois-based distributor specializing in medical and juvenile products. Under his guidance, Marshall’s annual revenue expanded from $18 million to $40 million over four years, establishing itself as the largest US supplier of blood pressure monitors and stethoscopes. In 1990, Omron Corp. purchased Marshall for $25 million.
After Marshall Partners underwent a leveraged buyout, Johnsen took on the role of special limited partner at Harvest Partners and founded Johnsen Properties to invest in real estate across southeastern Connecticut.
Once his non-compete agreement with Omron expired in January 1995, Johnsen joined Acme United Corp.’s board. Following an $8.7 million loss reported by Acme United that year, he succeeded Dwight Wheeler II as CEO. He swiftly enacted significant cost-cutting measures: shuttering five manufacturing plants, transferring production to an updated facility in North Carolina, reducing inventory levels, and downsizing approximately 800 employees including nine senior executives.
Although restructuring expenses led to a further $3.2 million loss in 1996, by 1997 production had moved to China. These operational savings were reinvested into product innovation, setting the stage for Acme United’s subsequent expansion.
From 2005 through 2014, Johnsen contributed to the New York Stock Exchange’s listed company council by advising on matters relevant to small and mid-cap organizations.
In January 2016, he joined the Board of Directors for TOMI Environmental Solutions, Inc.
Personal life
Johnsen, who played a key role in establishing the Stonington Harbor Yacht Club and served as its commodore from 2007 to 2009, has a keen interest in history and international economics.
He is married to Wendy Davies, and together they have one son.