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

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...

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

Wake Forest University Wake Forest University is a private research university in Winston-Salem, North Carolina. Founded in 1834, the university received its name from its original location in Wake Forest, north of Raleigh, North Carolina. The Reynolda Campus, the un ...

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. It has been owned by PepsiCo since 2001. History Precursor miller companies In the 1850s, Ferdinand Schumacher and Robert Stuart founded oat mills. Sc ...

, Naked Juice, Izze and Stacy's Chips.

Early career

Reinemund is a former Captain, serving for five years in the

United States Marine Corps The United States Marine Corps (USMC), also referred to as the United States Marines, is the maritime land force service branch of the United States Armed Forces responsible for conducting expeditionary and amphibious operations through combi ...

after he graduated from the

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

with a

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

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. It is located at 1600 Pennsylvania Avenue NW in Washington, D.C., and has been the residence of every U.S. president since John Adams in ...

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 to 1974. A member of the Republican Party, he previously served as a representative and senator from California and was ...

and Gerald Ford. After leaving the military, Reinemund held various positions at IBM and Marriott's

Roy Rogers Roy Rogers (born Leonard Franklin Slye; November 5, 1911 – July 6, 1998) was an American singer, actor, and television host. Following early work under his given name, first as co-founder of the Sons of the Pioneers and then acting, the rebra ...

division in addition to earning an

MBA A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...

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

PepsiCo

In 1984, Reinemund joined PepsiCo's

Pizza Hut Pizza Hut is an American multinational restaurant chain and international franchise founded in 1958 in Wichita, Kansas by Dan and Frank Carney. They serve their signature pan pizza and other dishes including pasta, breadsticks and dessert a ...

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., trading as Domino's, is an American multinational pizza restaurant chain founded in 1960 and led by CEO Russell Weiner. The corporation is Delaware domiciled and headquartered at the Domino's Farms Office Park in Ann Arbor ...

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 is an American subsidiary 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-fla ...

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 and the Cooper Institute. He was named to the Board of Trustees at Furman University 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. In 2007, as he was preparing to retire from Pepsi, Reinemund joined the corporate boards of American Express, Marriott International, and ExxonMobil. 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, Ohio-based, provider of equipment and services for data centers. Platinum Equity acquired the Emerson Network Power business from Emerson Electric in a transaction valued in excess of $4 billion, completed in December 20 ...

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 The Horatio Alger Association of Distinguished Americans is a nonprofit organization based in Alexandria, Virginia, that was founded in 1947 to honor the achievements of outstanding Americans who have succeeded in spite of adversity and to emphas ...

(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