News > April 24, 2008

By Maya Yette | Staff writer

Steve Reinemund, former PepsiCo chief executive officer and Chairman, was announced April 22 as the university’s new dean of business. “I have long admired Wake Forest and am deeply honored to have this opportunity,” Reinemund said.

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Steve Reinemund, former PepsiCo Chief Executive Officer and Chairman, was announced April 22 as the university’s new dean of business. (Photo courtesy University News Service)

“This is an exciting time for the university, and I am looking forward to working with the faculty to lead the Wake Forest business schools into a new era.”

After a 23-year career with PepsiCo, Reinemund will make history at the university, serving as the first Dean to head both of the university’s business schools, the Calloway School of Business and Accountancy and the Babcock Graduate School of Management.

Reinemund begins as dean on July 1 and will also serve as professor of leadership and strategy.

Reinemund was the unanimous choice of the Buisiness Dean Search Committee, headed by Provost Jill Tiefenthaler.

In a letter sent to faculty, staff and students announcing Reinemund’s appointment, Tiefenthaler said “Steve has an exceptional talent for strategic thinking that will further the university’s goals for the business schools.”

The decision to have one dean head both business schools was announced last September as part of the university’s strategic plan.

The realignment of the two schools is aimed at capitalizing on the strengths of the schools, promoting collaboration and creating opportunities to ensure that students receive the most comprehensive educational experience.

The current business deans, Jack Wilkerson of the Calloway School and Ajay Patel of the Babcock School, will return to the schools’ faculties in different full-time positions.

“How appropriate it is that Steve Reinemund will be leading our Calloway and Babcock schools as we embark on a business education initiative unlike anything in our past,” Wake Forest President Nathan O. Hatch said. “During his extraordinary career, Steve has been recognized as an inspirational leader and mentor. I greatly value his creative thinking about the role corporations should play in the contemporary world.”

Reinemund recently participated in the “Why Work: Business, Professions and the Common Good” conference held at the university.

Recalling his diversity effort at PepsiCo, Reinemund said, “The diversity journey for me was a very personal one as well as a professional one. ... We started with a vision – that vision is, that from the boardroom to the front line, we wanted the people who are PepsiCo to reflect the consumers we serve around the world.”

Barron’s magazine named Reinemund to its “World’s Most Respected CEO list” in 2005 and 2006 and BusinessWeek magazine twice included him in its list of “Top 25 Managers.”

He has also received numerous awards, including The Man Who Did the Most for Women Award from the National Council on Research on Women, the National Equal Justice Award from the NAACP Legal Defense Fund, and the President’s Award from the National Council of La Raza.

After his retirement from PepsiCo in 2007 the Reinemund Diversity and Inclusion Legacy Award was established to recognize individuals within the company who demonstrate consistent, significant contributions toward fostering diversity and inclusion at PepsiCo and in the community.

Reinemund will join the university community with his wife of 34 years Gail; the couple has four children.

During his 23 years at PepsiCo, Reinemund served as chairman and CEO from 2001 to 2006 and chairman in 2007.

Previously he held the positions of president and chief operating officer of PepsiCo as well as CEO of Frito-Lay’s worldwide operations.

Reinemund began at PepsiCo as CEO of the Pizza Hut division.

Currently, he is a member of the board of directors of American Express, Marriott and ExxonMobil as well as serves as a trustee of the United States Naval Academy Foundation.

Reinemund is a graduate of the U.S. Naval Academy and also served five years as an officer in the U.S. Marine Corps, achieving the rank of captain.

In addition, he received a Master of Business Administration degree at the Darden Graduate School of Business Administration at the University of Virginia.