Steven Reinemund

Steven S. Reinemund
Reinemund in 2018
Born (1948-04-06) April 6, 1948 (age 76)
New York, New York
EducationU.S. Naval Academy (B.S.)
University of Virginia (M.B.A.)
Employers
TitleDean/CEO
Political partyRepublican
Board member ofThe Cooper Institute 2003-present
Johnson & Johnson 2003-2007
American Express 2007-2015
ExxonMobil 2007-Present
Marriott International 2007-Present
Wal-Mart 2010-Present
Chick-fil-A 2015-Present
Vertiv 2020-Present
SpouseGail T. Reinemund
Children4

Steven S. Reinemund (born April 6, 1948) is an American businessman who was chairman and chief executive officer of PepsiCo between 2001 and 2006 and dean of the Schools of Business at Wake Forest University 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.[1] He led the acquisitions of several other food and beverage companies including Quaker Oats, Naked Juice, Izze and Stacy's Chips.

Early career

Reinemund is a former captain, 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.[2]

After leaving the military, Reinemund held various positions at IBM and Marriott's Roy Rogers[3] division in addition to earning an MBA at the Darden Business School at UVA in 1978.[4]

PepsiCo

In 1984, Reinemund joined PepsiCo's Pizza Hut 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.[4]

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.[5]

Academia

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

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.[6] 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[citation needed], Marriott International[citation needed], and ExxonMobil.[7][8] 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.[9][10][11][12]

Since 2020, Reinemund has served as a member of the board of directors of Vertiv.[13]

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

  1. ^ PepsiCo press release Archived April 25, 2010, at the Wayback Machine
  2. ^ Evans, Matt (29 September 2008). "Steve Reinemund: WFU dean of business knows a thing or two about realigning large bodies of business". Archived from the original on 2013-01-17.
  3. ^ "BTU #56 – Steve Reinemund: Marines to CEO of PepsiCo". Beyond the Uniform. 2017-01-09. Retrieved 2017-08-18.
  4. ^ a b Steven S. Reinemund Archived April 2, 2014, at the Wayback Machine
  5. ^ "FY 2006 PepsiCo Inc. proxy statement". SEC. Archived from the original on 2013-01-16.
  6. ^ USNA Board of Directors[permanent dead link‍]
  7. ^ "Board of Directors | ExxonMobil". ExxonMobil. Archived from the original on 2017-08-18. Retrieved 2017-08-18.
  8. ^ "Steven S. Reinemund Elected to ExxonMobil Board". www.businesswire.com (Press release). Retrieved 2017-08-18.
  9. ^ "FY 2010 American Express proxy statement". Archived from the original on 2013-01-16.
  10. ^ "FY 2010 Exxon Mobil proxy statement". Archived from the original on 2013-01-16.
  11. ^ "FY 2010 Marriott International proxy statement". Archived from the original on 2013-01-16.
  12. ^ "FY 2011 Wal-Mart Stores, Inc. proxy statement". Archived from the original on 2013-01-16.
  13. ^ "Vertiv Holdings Co. - Corporate Governance - Executive Management - Person Details". investors.vertiv.com. Retrieved 2022-02-22.
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Business positions
Preceded by
Roger Enrico
 Chairman & CEO of PepsiCo
2001 – 2006 		Succeeded by