John Teets was a dynamic and transformative leader who ascended from an entrepreneurial background to become the CEO of a Fortune 500 powerhouse. His career is a testament to strategic vision and hands-on management, steering a multi-billion dollar conglomerate towards becoming a global leader in consumer goods and services. Recognizing the imperative for adaptability in the ever-evolving business landscape, John Teets championed restructuring and efficiency as cornerstones of corporate survival and success.
John Teets’ journey into the upper echelons of corporate America began with an entrepreneurial spirit. Even before turning 30, he demonstrated his business acumen as a partner in a sprawling entertainment complex near Chicago. This venture, boasting 16 retail spaces, an ice rink, and a 300-seat restaurant, provided fertile ground for Teets to hone his skills in management and operations, setting the stage for his future triumphs in the corporate realm. This early experience proved invaluable when John Teets transitioned into the corporate world, joining the Greyhound Corporation in 1963. His initial role was focused on developing restaurants for Greyhound’s Post House subsidiary, specifically for the prestigious New York World’s Fair.
By 1965, John Teets’ exceptional leadership qualities were undeniable. At the young age of 32, he was appointed president of two pivotal food service subsidiaries, Post House and Horne’s Enterprises. This landmark achievement made him the youngest subsidiary chief operating officer in Greyhound’s history, signaling the rapid ascent of John Teets within the organization. His trajectory continued upward as he became president and CEO of Greyhound Food Management, and subsequently group vice president of food service for the entire Greyhound Corporation in 1975. During his tenure, the food service division experienced remarkable growth, expanding by 60 percent in just four years, a clear indicator of John Teets’ effective leadership and strategic direction. In 1980, John Teets took on additional responsibilities as group vice president of services, broadening his oversight to encompass aircraft ground services, cruise ship retail operations, airport duty-free shops, and various other service-oriented businesses within the Greyhound portfolio.
Image: John Teets in US Army uniform during his service in Stuttgart, Germany, showcasing his early commitment to service and discipline.
The year 1980 marked another significant milestone in John Teets’ career as he was elected vice chairman of the Greyhound Corporation and appointed to its board of directors. His strategic capabilities soon led to his appointment as chairman and CEO of Armour & Company, then a Greyhound subsidiary. In October 1981, John Teets reached the pinnacle of leadership at Greyhound, becoming CEO of the entire corporation and subsequently chairman of the board in 1982. Over the ensuing decade, John Teets embarked on a transformative restructuring of the Greyhound Corporation. He skillfully streamlined the sprawling conglomerate, making it more agile, profitable, and attractive to investors. A key strategic move was the sale of Armour in 1983 to ConAgra for $2 billion. However, John Teets strategically retained Armour’s consumer products division, which was rebranded and flourished as the Dial Consumer Products Group.
The culmination of John Teets’ strategic restructuring plan came in early 1996. He orchestrated the division of Dial into two independent, publicly traded entities. One entity, retaining the name Dial Corporation, encompassed the well-established and highly successful $1.6 billion consumer products business. The other, named Viad Corp, represented the $2.5 billion service sector of the former Dial. Viad Corp comprised the diverse service businesses previously under Dial, including convention services, airline catering, financial payment processing, and travel and leisure operations. This strategic reshaping of Dial proved to be a resounding success under the guidance of John Teets. From 1991 to 1995, Dial stock significantly outperformed the S&P 500 index by nearly 50 percent, demonstrating the positive impact of his strategic decisions. Research indicated that Dial products were ubiquitous in American households, with an estimated eight out of ten U.S. homes containing at least one Dial product. Dial’s global reach was extensive, with products sold in 78 countries and manufactured in 14 U.S. plants and one in Mexico. Moreover, Dial’s service companies, contributing 47 percent of the corporation’s total revenue, ascended to industry-leading positions. Greyhound Leisure Services became the world’s preeminent operator of duty-free shops on cruise ships; Dobbs International Services emerged as the largest domestic airline caterer; Travelers Express surpassed the U.S. Post Office to become the nation’s largest seller of money orders; and GES Exposition Services solidified its position as the largest convention operator in the United States.
Beyond his corporate achievements, John Teets was deeply committed to the betterment of his community and made significant contributions to the Valley and the State of Arizona. During his leadership at Dial, John Teets established Dial’s community giving program. This initiative provided crucial funding to hundreds of charities and community projects throughout Arizona, demonstrating John Teets’ dedication to corporate social responsibility. Notably, he served as the general chairman of the Boys & Girls Club’s 50th Anniversary Campaign, spearheading efforts that led to the construction of a new Boys & Girls Club in Avondale, Arizona. His commitment extended to establishing a scholarship fund, state-of-the-art computer labs, and an endowment fund to ensure the long-term financial stability of the Boys & Girls Club’s programs and services. John Teets’ philanthropic impact extended to numerous other organizations, including St Mary’s Food Bank, Special Olympics AZ, Foundation for Blind Children, AZ Humane Society, St Vincent De Paul, and the Phoenix Art Museum, reflecting his broad commitment to community welfare.
John Teets also actively worked to foster a thriving economic environment in Phoenix and Arizona. In 1987, he played a pivotal role in keeping the NBA Phoenix Suns basketball team in the Valley through a significant investment from Greyhound. As CEO of Dial, he championed the sponsorship of television rights for the Phoenix Open golf tournament. Under his leadership, Dial became the first corporate investor in the expansion Major League Baseball team, the Arizona Diamondbacks, further cementing his commitment to the region’s growth and prosperity. John Teets was an engaged member of numerous prestigious business, professional, and academic organizations, including the Business Roundtable, Conference Board, and Presidents Association of the American Management Association. He also championed important public policy issues within Arizona, most notably taking a leadership role in establishing a Victims’ Rights Amendment to the Arizona Constitution in 1990. This landmark achievement ensured that victims of crimes would have a participatory role in the criminal justice system, underscoring John Teets’ commitment to justice and community safety. John Teets’ legacy is one of exceptional business acumen coupled with a profound dedication to community enhancement, leaving an indelible mark on both the corporate world and the state of Arizona.
