William B. Johnson, Builder of Industries, Dies

William B. Johnson of Lake Forest, who in a 33-year career with IC Industries and the Illinois Central Railroad built the company into a global giant, died Tuesday in Lake Forest, according to information provided by Wenban Funeral Home. He was 94.

After 19 years in the railroad industry, Johnson was elected president and chief operating officer of the Illinois Central Railroad and its parent, IC Industries, in 1966. For the next 33 years, he oversaw its growth into a Fortune 100 company.

Under Johnson’s leadership, the Illinois Central was merged with Gulf, Mobile & Ohio Railroad and ultimately sold to Canadian National in 1999. In his role with IC Industries, he oversaw the acquisition of over 100 companies including Abex, Whitman Chocolate, Old El Paso and Dad’s Root Beer.

Using the air rights over the Illinois Central tracks, Johnson led company partnership efforts to create the Illinois Center real estate development. The project is a multiuse endeavor covering several square blocks in downtown Chicago with the largest contract public works infrastructure in the city’s history, according to Wenban’s information.

In 1985, Crain’s Chicago Business named Johnson its Businessman of the Year and a year later he received Loyola’s Damen Award for Civic Leadership.

Johnson was born was born in 1919 in Salisbury, MD, and graduated maxima cum laude from Washington College in 1940 where he was president of the Student Government Association and a member of the tennis team. He then went to the University of Pennsylvania Law School where he was editor-in-chief of the law review before graduating in 1943.

After working as an attorney with the United States Tax Court from 1945 to 1947, Johnson became an assistant solicitor of the Pennsylvania Railroad. He left in 1959 to head Railway Express Agency before coming to IC Industries and the Illinois Central in 1966.

During his business career, Johnson was a director of many corporations including Perdue Farms, Lear Siegler’s ownership committee, Swiss Air Advisory Board, Trans Union Corporation, Broadcasting, Whitman Corporation, Continental Bank, Esmark, Pet Foods, Midas, Abex, Pepsi-Cola General Bottlers and Lincoln Financial.

Outside the business world, Johnson was a member of the Board of Trustees of the University of Chicago, the Board of Overseers of the University of Pennsylvania Law School and the Washington College Board of Governors. He has an honorary doctorate degree from Washington.

Some of Johnson’s many others honors include a lifetime achievement award from the railroad industry, the Harry E. Salzburg Memorial Medal for outstanding achievement in the field of transportation and the establishment of a chair in corporate law at the University of Pennsylvania.

Johnson is survived by his wife of 70 years, Mary Barb Johnson, an attorney and former Lake Forest alderman. He is also survived by two sons, Kirk Johnson and Benjamin H. Johnson, a daughter, Kathleen Johnson, and six grandchildren. Funeral arrangements are pending.