Yum! Brands
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Yum! Brands, Inc. (NYSE: [YUM]
A&W, KFC, Long John Silver's, Pizza Hut and Taco Bell are global leaders of their respective restaurant categories. [[Citing sources citation needed]] Yum!'s global system sales totaled more than $9 billion in 2002.
History
Yum! was created on October 7, 1997, as Tricon Global Restaurants, Inc. an independent, publicly owned company, as a result of a spin-off from PepsiCo, who owned, and franchised the KFC, Pizza Hut and Taco Bell brands worldwide. The chain continues to sell PepsiCo beverages and other products.David C. Novak became Chairman of the Board on January 1, 2001, and Chief Executive Officer of Yum on January 1, 2000. He also serves as President of Yum, a position he has held since October 21, 1997. Mr. Novak previously served as Group President and Chief Executive Officer, KFC and Pizza Hut from August 1996 to July 1997, at which time he became acting Vice Chairman of Yum. He is a director of J.P. Morgan Chase. Novak is a member of the Yum! Brands Executive/Finance Committee.
In March 2002, Tricon announced the acquisition of Yorkshire Global Restaurants, headquartered in Lexington, Kentucky, and its two brands: Long John Silver's and A&W All-American Food. At that time, management announced its intention to change the company's name to Yum! Brands, Inc., which better reflected the entire portfolio of restaurants/brands as well as the company's New York Stock Exchange ticker: YUM. The Yorkshire acquisition was completed May 7, 2002, to drive the company's commitment to multibranding. In May 16, 2002, the name change became effective after a vote during the company's Annual Meeting of Shareholders. In June 17, 2002, YUM executed a two-for-one stock split.
In 2004 and 2005, Yum! Brands has been the target of boycotts by the American Decency Association for its advertising on what it calls "trashy shows" and by the Organic Farmers & Gardeners Union for alleged "sweatshop conditions" among farm workers.
In February 1, 2006, the announcement was made that Yum! Brands had become the first official sponsor of the Kentucky Derby [link], which would henceforth be titled The Kentucky Derby, presented by Yum! Brands.
The term KenTaco Hut is sometimes used [[Citing sources citation needed]] to refer to a building that includes a KFC, a Pizza Hut, and a Taco Bell, all Yum! properties. The menu at each restaurant may be more limited than at the standalone versions.
Executive officers
- Chairman, CEO—David C. Novak
- COO—David Deno
- CFO—David Deno
- CIO—Delaney Bellinger
- Chief Development Officer—Chuck Rawley
- Public Affairs—Jonathon Blum
- Founder—Kenneth Langone
See also
- List of United States companies
- Priszm Canadian Income Fund—owns the Canadian franchises for all Yum! divisions except for A&W
External links
- [Yum Brands' website]
- [Diners Walk Through One Door and Visit Two Restaurants] Article in the New York Times (July 11, 2005) on Yum!'s strategy of multibranding restaurants
- [Fast food's yummy secret: America's second-biggest fast-food group is as successful as it is little known] Special report in The Economist (August 27, 2005) on Yum! Brands
| Yum! Brands, Inc. |
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| Pizza Hut | Taco Bell | KFC | A&W Restaurants | Long John Silver's |
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