John W. Teets served as the CEO of the Dial and the Greyhound Corporation during the 1980s and early 1990s.
Under his leadership, Teets transformed Greyhound—which was once a small transportation company—into a large conglomerate with holdings in travel, food services, financial services, and consumer products. One of these holdings was Dial, which became one of the nation’s leading consumer products companies.
Here’s everything you need to know about the man who transformed a small bus company into a multi-billion-dollar business.
Who Was John Teets?
John Teets was born on September 15, 1933, in Illinois, to mother Mary Dolores Burroughs and father John Claude Teets. He was raised alongside siblings Catherine and David in a middle-class family.
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Teets attended Elmhurst High School, where he participated in various extracurricular activities like track and the Demonstrators Club. Upon graduating from high school in 1951, he attended Roosevelt University in Chicago and pursued a degree in business and management.
Career
Teets had always been a forward-minded individual. By age 29, he was already a partner in a suburban Chicago entertainment complex that featured 16 shops, an ice-skating rink, and a 300-seat restaurant.
In 1963, he joined the then-transportation company Greyhound to help develop restaurants at Greyhound’s Post House subsidiary.
Just two years later, at age 32, he became president of two food service subsidiaries—Post Houses and Horne’s Enterprises—making him the youngest subsidiary chief operating officer in Greyhound’s history.
Over the next decade, Teets expanded his leadership roles within Greyhound’s food service and service businesses. In 1975, he became president and CEO of Greyhound Food Management and group vice president of food service for Greyhound Corporation.
By 1980, he was elected vice chairman of Greyhound Corporation and joined its board of directors. In 1981, Teets was named CEO of the entire Greyhound Corporation and became chairman of the board in 1982.
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He focused on growing and retaining the consumer products division of the corporation and eventually split Dial into two independent publicly traded companies: Dial Corporation, which sold consumer products, and Viad Corp (now renamed Pursuit), an attractions and hospitality company.
Death and Legacy
John Teets passed away on August 5, 2011, at his home in Paradise Valley, Arizona, due to complications from Alzheimer’s disease. He was 77 years old. John Teets is now considered one of the most influential businessmen of his time, transforming a small company into a $5 billion conglomerate with 48,000 employees.
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John Teets Net Worth
At the time of his passing in 2011, John Teet’s net worth was estimated to have been in the millions. Exact figures aren’t publicly known, but considering his role as the CEO of major corporations during the 1980s and 1990s, as well as his involvement in significant business deals, his wealth may have exceeded eight figures.
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