Great American Business Leaders of the 20th Century
Alfred N. Steele
PepsiCo
1950–1959
1950–1959
PepsiCo
1950–1959
1950–1959
- Industry: Food & Tobacco
- Era: 1950
Arriving at Pepsi after defecting from an alienating position at Coca-Cola, Steele immediately began a highly involved rehabilitation process at the battered soft drink maker. Steele installed a more autonomous management structure, instituted an extensive advertising campaign that helped Pepsi grow out of its “poor man’s cola” image, and created a vending machine business for Pepsi. All of these changes allowed Pepsi to gain a great deal of market share, predominantly at the expense of Coca-Cola, and grow income from $1.6 million in 1950 to $11.5 million in 1958.
Personal
- Born-Died: 1901–1959
- Birthplace: Tennessee
- Race: White
- Gender: Male
- Father: White Collar Worker
Education / Military
- Undergraduate: Northwestern University