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Putting AutoZone into Drive
Joseph “Pitt” Hyde III, 70, knew nothing about cars. But
after turning his grandfather’s company, Malone & Hyde,
into the nation’s third-largest wholesale food distributor,
he figured there was money to be made un-der the hood.
Touting low everyday prices (a strategy he learned from
serving on the board of Walmart), he founded AutoZone,
which is now the nation’s largest retail auto parts chain. .
. .I was born in Memphis, and grew up here. My
grandfather started Malone & Hyde, a wholesale food
distributor, in 1907. He ran it, my father ran it, and I ran
it. From the time I was 4 or 5, my grandfather would take
me to visit the stores, and my father always discussed
the big decisions being made with me. I was always told
that I had the opportunity to run Malone & Hyde, and the
obligation to do it better than my grand-father and father
did. I never knew I had a choice. . . .After I graduated
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