Kinnevik's Board meeting of December 13, 1977. From left:
Ragnar Sundén, Knut von Horn, Nils Landqvist, Jan Hugo Stenbeck, Carl-Gustaf Klingspor, Carl Fredrik von Horn, Arne Westerberg, Hans von Kantzow, Stig Klingspor and Bo von Horn

 

Hugo Stenbeck, just over 80 years, interviewed by the business magazineBusiness Week 1972nd

1960 - 1970 Leaving the old

Year by year Kinnevik continues to increase ownership in the existing holdings according to the initial strategy. Hugo Stenbeck succeeds Wilhelm Klingspor as Chairman of the Board of Kinnevik. A year later, Stenbeck hands over the presidency to his eldest son, Hugo Stenbeck Jr, a lawyer. Responsibility for the company’s future now rests squarely on the shoulders of the Stenbeck father-and-son team.

 

A new investment made 1964 is shares in Refrigerated Carrier M/S Frigion with a 815 deadweight tonnage, in which Kinnevik buys three

quarters and also a smaller investment in property development company Fastighet AB Loftahammar.

Both shipping and property development was, as it seems, new industries for Kinnevik. Kinnevik signs for almost half the right issues of SEK 2.5 million that AB Gordos makes when buying all the shares in AB Amerikanska Motorimporten. Kinnevik, which already has experience in the automobile electronics industry, through the ownership of Robert Bosch AB, now took the step into the the automotive industry.