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Already lauded in the beverage industry for his turnaround of Snapple Beverage Group, Michael Weinstein '70, CEO, has received another accolade as Westchester County Business Leader of the Year. Selected for the honor by the Journal News of White Plains, N.Y., Weinstein is known for reviving Snapple for parent company Triarc Cos. Inc. after the brand had languished under Quaker Oats. That accomplishment led to him being named 1999 Beverage Executive of the Year by Beverage Industry.
The next big challenge was keeping the company together late last year when an anticipated spin-off from Triarc in an initial public offering ended unexpectedly with the company's acquisition by Cadbury Schweppes PLC. “The key was communication,” says Weinstein, who reassured employees through weekly emails and personal meetings. “The message was that things were actually going to improve because we were going from ownership by a financial company to a beverage company.”
Maintaining a sense of humor also was important. When a location could not be found for a meeting with employees and a Cadbury Schweppes executive, Weinstein chose an “old rock concert theater,” donning a wig to open with a song on guitar.
Weinstein serves on several nonprofit boards, including local branches of the American Red Cross and United Way. An economics graduate, he received an M.B.A. from Harvard Business School.