Steven Reinemund
Encyclopedia
Steven S Reinemund is dean of the Schools of Business at Wake Forest University
. He was chairman and CEO
of PepsiCo
between 2001 and 2006. Reinemund spent 22 years working for PepsiCo in various capacities. During his CEO tenure at PepsiCo, revenues grew by $9 billion, net income rose 70%, earnings per share were up 80% and PepsiCo’s market cap exceeded $100 billion. He led the acquisitions of several other food and beverage companies including Quaker Oats, Naked Juice
, Izze
and Stacy’s Chips.
, serving for five years in the United States Marine Corps
after he graduated from the United States Naval Academy
with a Bachelor of Science
degree in 1970. Part of his five years in the military, Reinemund served as a guard at the White House
during the administrations of Richard Nixon
and Gerald Ford
.
After leaving the military, Reinemund held various positions at IBM
and Marriott’s
Roy Rogers
division in addition to earning an MBA at the Darden Business School at UVA
in 1978.
division (subsequently divested) as the Senior Vice President of Operations. Two years later, he was named President & CEO of Pizza Hut in North America where he introduced home-delivery as a distribution method, overtaking market share of rival Domino's Pizza
within 2 years. In 1991, Reinemund assumed the role of president and CEO of Pizza Hut Worldwide. Reinemund then moved to PepsiCo’s Frito-Lay
division in 1992, serving as president and CEO for seven years before being promoted to the position of PepsiCo president and COO in 1999. In 2001 the board of PepsiCo named Reinemund chairman and CEO.
at Wake Forest University
.
and the Cooper Institute. In 2007, he was named to the boards of ExxonMobil
, Marriott International
and American Express
. Reinemund also serves on the board of the U.S. Naval Academy Foundation. and served on the advisory board of the Salvation Army
.
.
Wake Forest University
Wake Forest University is a private, coeducational university in the U.S. state of North Carolina, founded in 1834. The university received its name from its original location in Wake Forest, north of Raleigh, North Carolina, the state capital. The Reynolda Campus, the university's main campus, is...
. He was chairman and CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of PepsiCo
PepsiCo
PepsiCo Inc. is an American multinational corporation headquartered in Purchase, New York, United States, with interests in the manufacturing, marketing and distribution of grain-based snack foods, beverages, and other products. PepsiCo was formed in 1965 with the merger of the Pepsi-Cola Company...
between 2001 and 2006. Reinemund spent 22 years working for PepsiCo in various capacities. During his CEO tenure at PepsiCo, revenues grew by $9 billion, net income rose 70%, earnings per share were up 80% and PepsiCo’s market cap exceeded $100 billion. He led the acquisitions of several other food and beverage companies including Quaker Oats, Naked Juice
Naked Juice
Naked Juice is an American brand of natural fruit juice drinks produced by the Naked Juice Company of Monrovia, California; operating as a wholly owned subsidiary of PepsiCo. The first of these drinks were produced in 1983 and sold in California under the name "Naked Juice", referring to their...
, Izze
Izze Beverage Company
IZZE Beverage Company is the name of the company that produces the Izze line of fruit-derived carbonated soft drinks commonly sold at Starbucks and other coffee shops, Chipotle, Whole Foods, Target, CostCo, other health food stores, and grocery stores. IZZE is made of 70% fruit juice and 30%...
and Stacy’s Chips.
Early career
Reinemund is a former CaptainCaptain (OF-2)
The army rank of captain is a commissioned officer rank historically corresponding to command of a company of soldiers. The rank is also used by some air forces and marine forces. Today a captain is typically either the commander or second-in-command of a company or artillery battery...
, serving for five years in the United States Marine Corps
United States Marine Corps
The United States Marine Corps is a branch of the United States Armed Forces responsible for providing power projection from the sea, using the mobility of the United States Navy to deliver combined-arms task forces rapidly. It is one of seven uniformed services of the United States...
after he graduated from the United States Naval Academy
United States Naval Academy
The United States Naval Academy is a four-year coeducational federal service academy located in Annapolis, Maryland, United States...
with a Bachelor of Science
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
degree in 1970. Part of his five years in the military, Reinemund served as a guard at the White House
White House
The White House is the official residence and principal workplace of the president of the United States. Located at 1600 Pennsylvania Avenue NW in Washington, D.C., the house was designed by Irish-born James Hoban, and built between 1792 and 1800 of white-painted Aquia sandstone in the Neoclassical...
during the administrations of Richard Nixon
Richard Nixon
Richard Milhous Nixon was the 37th President of the United States, serving from 1969 to 1974. The only president to resign the office, Nixon had previously served as a US representative and senator from California and as the 36th Vice President of the United States from 1953 to 1961 under...
and Gerald Ford
Gerald Ford
Gerald Rudolph "Jerry" Ford, Jr. was the 38th President of the United States, serving from 1974 to 1977, and the 40th Vice President of the United States serving from 1973 to 1974...
.
After leaving the military, Reinemund held various positions at IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
and Marriott’s
Marriott Corp.
Marriott Corporation was a hospitality company that operated from 1927–1993, founded originally by J. Willard Marriott and Frank Kimball as Hot Shoppes, Inc. In 1957, Marriott Corporation opened its first hotel in Arlington County, Virginia, United States as the Twin Bridges Motor Hotel...
Roy Rogers
Roy Rogers Family Restaurants
Roy Rogers Restaurants is a Northeastern United States chain of fast food restaurants founded by the Marriott Corporation in 1968 in Falls Church, Virginia. As of 2010, Roy Rogers has 47 locations. In 2002, the Plamondon Companies purchased the trademark from Imasco, the former parent of Hardee's...
division in addition to earning an MBA at the Darden Business School at UVA
Darden Graduate School of Business Administration
The University of Virginia Darden School of Business is the graduate business school associated with the University of Virginia in Charlottesville, Virginia. The Darden School is one of the world's leading business schools, offering MBA, Ph.D. and Executive Education programs...
in 1978.
PepsiCo
In 1984, Reinemund joined PepsiCo’s Pizza HutPizza Hut
Pizza Hut is an American restaurant chain and international franchise that offers different styles of pizza along with side dishes including pasta, buffalo wings, breadsticks, and garlic bread....
division (subsequently divested) as the Senior Vice President of Operations. Two years later, he was named President & CEO of Pizza Hut in North America where he introduced home-delivery as a distribution method, overtaking market share of rival Domino's Pizza
Domino's Pizza
Domino's Pizza, Inc. is an international pizza delivery corporation headquartered in Ann Arbor, Michigan, United States of America. Founded in 1960, Domino's is the second-largest pizza chain in the United States and has over 9,000 corporate and franchised stores in 60 countries and all 50 U.S....
within 2 years. In 1991, Reinemund assumed the role of president and CEO of Pizza Hut Worldwide. Reinemund then moved to PepsiCo’s Frito-Lay
Frito-Lay
Frito-Lay North America is the division of PepsiCo that manufactures, markets and sells corn chips, potato chips and other snack foods. The primary snack food brands produced under the Frito-Lay name include Fritos corn chips, Cheetos cheese-flavored snacks, Doritos and Tostitos tortilla chips,...
division in 1992, serving as president and CEO for seven years before being promoted to the position of PepsiCo president and COO in 1999. In 2001 the board of PepsiCo named Reinemund chairman and CEO.
Current career
On April 22, 2008, Reinemund was named dean of the Calloway School of Business and Accountancy and Babcock Graduate School of ManagementBabcock Graduate School of Management
The Babcock Graduate School of Management is one of the graduate schools of Wake Forest University. Established in 1969, it admitted its first classes of full-time and executive students in 1971 and presented its first graduating class in 1973. The Babcock School was established with a gift from...
at Wake Forest University
Wake Forest University
Wake Forest University is a private, coeducational university in the U.S. state of North Carolina, founded in 1834. The university received its name from its original location in Wake Forest, north of Raleigh, North Carolina, the state capital. The Reynolda Campus, the university's main campus, is...
.
Boards
In 2003, Reinemund was elected to the boards of Johnson & JohnsonJohnson & Johnson
Johnson & Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500....
and the Cooper Institute. In 2007, he was named to the boards of ExxonMobil
ExxonMobil
Exxon Mobil Corporation or ExxonMobil, is an American multinational oil and gas corporation. It is a direct descendant of John D. Rockefeller's Standard Oil company, and was formed on November 30, 1999, by the merger of Exxon and Mobil. Its headquarters are in Irving, Texas...
, Marriott International
Marriott International
Marriott International, Inc. is a worldwide operator and franchisor of a broad portfolio of hotels and related lodging facilities. Founded by J. Willard Marriott, the company is now led by son J.W. Marriott, Jr...
and American Express
American Express
American Express Company or AmEx, is an American multinational financial services corporation headquartered in Three World Financial Center, Manhattan, New York City, New York, United States. Founded in 1850, it is one of the 30 components of the Dow Jones Industrial Average. The company is best...
. Reinemund also serves on the board of the U.S. Naval Academy Foundation. and served on the advisory board of the Salvation Army
Salvation Army
The Salvation Army is a Protestant Christian church known for its thrift stores and charity work. It is an international movement that currently works in over a hundred countries....
.
Personal life
Reinemund has been married to Gail T. Reinemund since 1974. They have four children, Steven, Jonathan, and adopted twins Chrissy and Kevin. They live in Winston-Salem, North CarolinaWinston-Salem, North Carolina
Winston-Salem is a city in the U.S. state of North Carolina, with a 2010 population of 229,617. Winston-Salem is the county seat and largest city of Forsyth County and the fourth-largest city in the state. Winston-Salem is the second largest municipality in the Piedmont Triad region and is home to...
.