Steven S. Reinemund (born April 6, 1948) is an American businessman who was

chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

and

chief executive officer A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

PepsiCo PepsiCo, Inc. is an American multinational corporation, multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase, New York, Purchase. PepsiCo's business encompasses all aspects of the f ...

between 2001 and 2006 and dean of the Schools of Business at

Wake Forest University Wake Forest University (WFU) is a private research university in Winston-Salem, North Carolina, United States. Founded in 1834, the university received its name from its original location in Wake Forest, north of Raleigh, North Carolina. The R ...

between 2008 and 2014. 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 The Quaker Oats Company, known as Quaker, is an American food conglomerate based in Chicago, Illinois. As Quaker Mill Company, the company was founded in 1877 in Ravenna, Ohio. In 1881, Henry Crowell bought the company and launched a national ad ...

Naked Juice Naked Juice is an American brand that produces juices and smoothies. The company is based in Monrovia, California and is owned by PAI Partners. The first Naked Juice drink was produced in 1983 and sold in California under the name "Naked Juice", ...

, Izze and Stacy's Chips.

Early career

Reinemund is a former

captain Captain is a title, an appellative for the commanding officer of a military unit; the supreme leader or highest rank officer of a navy ship, merchant ship, aeroplane, spacecraft, or other vessel; or the commander of a port, fire or police depa ...

, serving for five years in the

United States Marine Corps The United States Marine Corps (USMC), also referred to as the United States Marines or simply the Marines, is the maritime land force service branch of the United States Department of Defense. It is responsible for conducting expeditionar ...

after he graduated from the

United States Naval Academy The United States Naval Academy (USNA, Navy, or Annapolis) is a United States Service academies, federal service academy in Annapolis, Maryland. It was established on 10 October 1845 during the tenure of George Bancroft as United States Secre ...

with a

Bachelor of Science A Bachelor of Science (BS, BSc, B.S., B.Sc., SB, or ScB; from the Latin ') is a bachelor's degree that is awarded for programs that generally last three to five years. The first university to admit a student to the degree of Bachelor of Scienc ...

degree in 1970. Part of his five years in the military, Reinemund served as a guard at the

White House The White House is the official residence and workplace of the president of the United States. Located at 1600 Pennsylvania Avenue Northwest (Washington, D.C.), NW in Washington, D.C., it has served as the residence of every U.S. president ...

during the administrations of

Richard Nixon Richard Milhous Nixon (January 9, 1913April 22, 1994) was the 37th president of the United States, serving from 1969 until Resignation of Richard Nixon, his resignation in 1974. A member of the Republican Party (United States), Republican ...

and

Gerald Ford Gerald Rudolph Ford Jr. (born Leslie Lynch King Jr.; July 14, 1913December 26, 2006) was the 38th president of the United States, serving from 1974 to 1977. A member of the Republican Party (United States), Republican Party, Ford assumed the p ...

. After leaving the military, Reinemund held various positions at

IBM International Business Machines Corporation (using the trademark IBM), nicknamed Big Blue, is an American Multinational corporation, multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is ...

and Marriott's

Roy Rogers Roy Rogers (born Leonard Franklin Slye; November 5, 1911 – July 6, 1998), nicknamed the King of the Cowboys, was an American singer, actor, television host, and Rodeo, rodeo performer. Following early work under his given name, first as a c ...

division in addition to earning an

MBA A Master of Business Administration (MBA) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular a ...

at the Darden Business School at UVA in 1978.Steven S. Reinemund

PepsiCo

In 1984, Reinemund joined PepsiCo's

Pizza Hut Pizza Hut, LLC is an American multinational pizza restaurant chain and international franchise founded in 1958 in Wichita, Kansas, by brothers Dan and Frank Carney. The chain, headquartered in Plano, Texas, operates 19,866 restaurants worldw ...

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, Inc., commonly referred to as Domino's, is an American multinational pizza restaurant chain founded in 1960 and led by CEO Russell Weiner. The corporation is Delaware General Corporation Law, Delaware-domiciled and headquartered ...

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, Inc. (; ) is an American food company that manufactures, markets, and sells snack foods. It began in the early 1930s as two companies, Fritos, the Frito Company and Lay's, H.W. Lay & Company, that merged in 1961. Frito-Lay itself merg ...

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. In each of his last two full years as CEO of PepsiCo., Reinemund was paid a base salary of $1 million and an annual bonus of $4.5 million.

Academia

On April 22, 2008, Reinemund was named dean of the Calloway School of Business and Accountancy and Babcock Graduate School of Management at

. On June 30, 2014 Reinemund stepped down as Dean of the Business, electing to remain with the university as Executive-in-Residence.

Boards

In 2003, Reinemund was elected to the boards of

Johnson & Johnson Johnson & Johnson (J&J) is an American multinational pharmaceutical, biotechnology, and medical technologies corporation headquartered in New Brunswick, New Jersey, and publicly traded on the New York Stock Exchange. Its common stock is a c ...

and the Cooper Institute. He was named to the Board of Trustees at

Furman University Furman University is a private university in Greenville, South Carolina, United States. Founded in 1826 and named after Baptist pastor Richard Furman, the Liberal arts college, liberal arts university is the oldest private institution of higher l ...

effective July 2012. Reinemund also serves on the board of the U.S. Naval Academy Foundation. and served on the advisory board of the

Salvation Army The Salvation Army (TSA) is a Protestantism, Protestant Christian church and an international charitable organisation headquartered in London, England. It is aligned with the Wesleyan-Holiness movement. The organisation reports a worldwide m ...

. In 2007, as he was preparing to retire from Pepsi, Reinemund joined the corporate boards of

American Express American Express Company or Amex is an American bank holding company and multinational financial services corporation that specializes in payment card industry, payment cards. It is headquartered at 200 Vesey Street, also known as American Expr ...

Marriott International Marriott International, Inc. is an American multinational corporation, multinational company that operates, franchises, and licenses lodging brands that include hotel, residential, and timeshare properties. Marriott International owns over 37 ho ...

, and

ExxonMobil Exxon Mobil Corporation ( ) is an American multinational List of oil exploration and production companies, oil and gas corporation headquartered in Spring, Texas, a suburb of Houston. Founded as the Successors of Standard Oil, largest direct s ...

. Three years later he joined the Walmart board. In 2010, according to the companies' proxy statements, he was paid $927,318 to serve on these boards. Since 2020, Reinemund has served as a member of the board of directors of

Vertiv Vertiv is an American multinational provider of critical infrastructure and services for data centers, communication networks, and commercial and industrial environments. Headquartered in Westerville, Ohio, Vertiv has ~31,000 employees worldw ...

Awards and recognition

*Businessweek's Top 25 "Managers of the Year" (2002, 2005) *Barron's "World's Most Respected CEO List" (2005, 2006) *Salvation Army Evangeline Booth Award (2007) * Horatio Alger Award (2020) *Honorary doctorate degree (Johnson and Wales University) *Honorary doctorate degree (Bryant University)

References

External links

Bios

BusinessWeek in 2003

NNDB in 2006

Interviews

Theology Today in 2003

SmartMoney in 2004

Videos

Stanford Business School in 2005
{{DEFAULTSORT:Reinemund, Steven American chief executives of food industry companies Directors of ExxonMobil 1948 births Living people United States Marine Corps officers United States Naval Academy alumni University of Virginia Darden School of Business alumni PepsiCo people Directors of Walmart