Charles Shoemate joined Corn Products Company International or CPC International in 1962. He worked his way up the company ladder and became Vice President in 1983.
After three years, he became President of the Corn Refining Division and by 1988 he became the President of CPC International.
When his predecessor, the chairman of CPC James R. Eisner died, Charles Shoemate took over as Chairman while still having the position of CEO. And then just six years later, he established the company as a billion-dollar enterprise.
Charles Shoemate – Expand and Conquer…
Charles Shoemate graduated from Western Illinois University in 1962. He then joined Corn Products Company International and worked there for 23 years. During his employment, he was able to acquire an MBA degree from the University of Chicago in 1971.
In 1983, Shoemate was promoted to the position of Vice President. After that, he was steadily moving up the hierarchy until in 1990, he became CEO and at the same time Chairman of CPC International.
Charles Shoemate continued the expansion of CPC’s operations to countries outside of the United States like the Czech Republic, Hungary, Israel, Poland, and Indonesia. The strategy he used was to base their growth on the acquisition of local brands. By 1994, almost two-thirds of the profits and sales of CPC were generated from other countries outside of the United States.
In the mid-1990s, Charles Shoemate continued to expand the food operations of the company. In 1995, he was able to acquire Golden Wonder Pot Noodle and Lesieur Mayonnaise and Salad Dressings. The biggest acquisition he made that year though was with the baking business of Kraft Foods, Inc., which cost $865 million dollars in cash. By 1996, just six years after Charles Shoemate became CEO and Chairman, CPC was generating $1.57 billion dollars in revenue.
The Charles Shoemate Quick Bio
Full Name: Charles R. Shoemate
Company: Best Foods Inc., Chevron
Industry: Baking Business, Food Industry
Key Success Traits: patient dreamer, diligent worker, exceptional visionary
In 1997, Charles Shoemate changed the name of Corn Products International to Best Foods, Inc., as he wanted the company to concentrate on the baking business instead of the corn refining business.
In the year 2000, Shoemate retired from Best Foods and became a board member of other companies such as Texaco (1998 – 2001), Chevron Texaco (2001 – 2005), CIGNA (2005) and International Paper (1999 until today). Currently, Charles Shoemate is a Board of Director of Chevron.