The Herman W. Lay Memorial Award does more than recognize one of the founders of our organization. Herman Lay was an outstanding example of the entrepreneurial spirit. He trod a path that led from a single snack food truck to becoming the Chairman of the Board of one of the world’s largest firms, PepsiCo, Inc. Herman was as generous as he was successful. His philanthropy extended to many causes, including the establishment of private enterprise and entrepreneurship programs. It was a generous gift of his that made the formation of APEE possible. Each year, APEE searches for individuals who, in their business and public lives, have emulated the pattern of success and philanthropy that Herman Lay lived. Recipients of the Herman W. Lay Memorial Award are selected because they are representative of the best that the free enterprise system produces. By calling attention to their lives and to their actions, APEE hopes to stimulate other individuals to be equally supportive of free enterprise and entrepreneurship.