Walter Staunton Mack Jr.
Walter Staunton Mack | |
|---|---|
| Born | Template:Birth date Manhattan, New York City, U.S. |
| Died | March 18, 1990 (aged 94) Manhattan, New York City, U.S. |
| Occupation(s) | Entrepreneur, financier |
| Years active | 1926–1980s |
| Known for | President and chairman of Pepsi-Cola; founder of King-Cola Corp. |
Walter Staunton Mack (October 19, 1895 – March 18, 1990) was a prominent American entrepreneur and financier who led Pepsi-Cola as president from 1938 until 1951, following the tenure of Charles Guth. His son, Walter S Mack Jr., was married to Consuelo Mack.
Biography
Mack was born in Manhattan, New York City and completed his education at DeWitt Clinton High School before graduating from Harvard College in 1917. During World War I, he served as an ensign in the U.S. Navy operating in the North Atlantic.
In 1938, Mack was appointed president of Pepsi, later assuming the role of chairman from 1951 through 1956. At that time, Pepsi had recently separated from Loft, Inc., a confectionery firm that distributed soft drink syrups to soda fountains. Competing against a market largely controlled by Coca-Cola, Pepsi reported revenues of $3 million in 1938, achieved a 76% increase in profits, and saw its share price climb from $70 to $190.
Mack’s expansion strategy involved directly confronting Coca-Cola, including winning a legal battle that permitted Pepsi to include "cola" in its brand name. By the 1940s, Pepsi had secured its position as the world's second-largest cola brand. He transformed marketing efforts with catchy jingles such as the 1939 classic "Pepsi-Cola Hits the Spot," focusing on affordability and brand recognition.
During his tenure, Mack initiated bold promotional efforts encompassing national scholarships—especially targeting Black students beginning in 1945—support for arts programs, and establishing community centers for youth and military personnel. He was also an innovator in packaging by introducing canned soft drinks in the early 1950s, a pioneering move among major beverage companies.
Mack eventually stepped down amid boardroom conflicts regarding his progressive promotional tactics and business approaches. After leaving Pepsi, he assumed leadership roles at several firms and founded King-Cola Corp. in 1978; however, this venture filed for bankruptcy by 1981.
Prior to his work at Pepsi, Mack had advanced to president of Bedford Mills textiles by 1926 and later transitioned into investment banking during the Great Depression. He earned recognition for revitalizing distressed companies through strategic investments and management influence—a talent that led him to identify Pepsi’s potential within Loft’s portfolio.
Politically engaged, Mack participated actively in New York civic matters and Republican Party activities. In 1932, he unsuccessfully sought election to the state Senate, supported Mayor Fiorello LaGuardia, chaired the New York County Republican Committee, and contributed to presidential campaigns spanning from the 1940s through the 1960s.
In his later years, Mack championed employment opportunities for older workers and testified before Congress on this issue in 1981. He remained active in business endeavors until shortly before passing away from heart disease at his residence in Manhattan in 1990.