Early Life
Joseph Reeves Hyde III, known as Pitt Hyde, was born in Memphis, Tennessee, in 1942. He came from a family with a strong background in the grocery business. His grandfather founded Malone & Hyde in 1907, a company that grew into a major wholesale food distributor.
Rise to Success
Hyde graduated from the University of North Carolina in 1965 with a degree in economics. He joined his family's wholesale food company, Malone & Hyde. He later became the company's president and CEO. In 1979, he founded AutoZone, which started as a division of Malone & Hyde and became an independent company in 1986. Hyde served as CEO until 1996, when he stepped down. Under his leadership, AutoZone expanded rapidly, and the company went public in 1991.
Key Business Strategies
Hyde's business philosophy centered on customer service. He emphasized training employees and providing knowledgeable service to customers. He also pioneered the use of computerization in AutoZone stores to help customers find parts quickly. Hyde's focus on customer service was influenced by his time on the board of directors of Wal-Mart.
Philanthropy
Hyde is a dedicated philanthropist, particularly in his hometown of Memphis. Together with his wife, Barbara, he founded the Hyde Family Foundation in 1992. The foundation has donated over $300 million to local causes, including education, the arts, and community development. The Hydes were instrumental in establishing the National Civil Rights Museum in Memphis.
