Early Life
Joseph Reeves Hyde III, known as Pitt Hyde, was born in Memphis, Tennessee in 1942. His family had deep roots in the grocery business; his grandfather founded Malone & Hyde in 1907. Hyde graduated from the University of North Carolina with a degree in economics in 1965.
Rise to Success
Hyde joined the family business and became president and CEO in 1972. However, he shifted his focus to the automotive aftermarket industry. In 1979, he founded Auto Shack as a division of Malone & Hyde in Forrest City, Arkansas. The store was later renamed AutoZone. Under Hyde's leadership, AutoZone grew rapidly. He served as CEO and board chair until 1996.
Key Business Strategies
Hyde's success with AutoZone was largely attributed to his focus on customer service. He implemented standardized training for all employees and emphasized customer assistance. Hyde pioneered the use of computerization in stores to help customers quickly find parts.
Philanthropy
Pitt Hyde, along with his wife, Barbara Rosser Hyde, runs the Hyde Family Foundation, which supports various initiatives in Memphis. The foundation has donated over $300 million to local causes, including education reform, the arts, and community development.