We are pleased to announce that 32nd annual AFE will be held on November 14, 2017 and will honor David C. Novak, co-founder and retired chairman and CEO of Yum! Brands, Inc.
David C. Novak is Co-Founder, retired Chairman and CEO of Yum! Brands, Inc., (NYSE: YUM), one of the world’s largest restaurant companies with over 43,500 restaurants in more than 135 countries and territories. He stepped down as Yum! Brands Executive Chairman on May 20, 2016. The Company’s restaurant brands – KFC, Pizza Hut and Taco Bell – are the global leaders of the chicken, pizza and Mexican-style food categories. Yum! Brands employs 1.5 million company employees and franchise associates across its worldwide system. Outside the United States, the Yum! Brands system opened over six new restaurants per day on average, making it a leader in global retail development.
During his tenure as CEO, Yum! Brands doubled in size to 41,000 restaurants and established itself as a global powerhouse going from approximately 20 percent of its profits coming from outside the United States in 1997 to nearly 70 percent in 2016, while remaining an industry leader in return on invested capital. In so doing, Yum! Brands’ compound annual shareholder return has been 16% and its market capitalization has grown to nearly $32 billion from just over $4 billion. Novak was also the architect of spinning off Yum! China as an independent public company as its largest licensee. In so doing, Yum Brands is now almost wholly owned and operated by franchisees.
A renowned expert on leadership and recognition culture, Novak is the author of three highly respected and critically acclaimed books, The Education of an Accidental CEO, the New York Times bestseller Taking People With You as well as his latest parable, O GREAT ONE! A LITTLE STORY ABOUT THE AWESOME POWER OF RECOGNITION.
Prior to leading Yum! Brands, Novak was President at both KFC and Pizza Hut, and held senior management positions at Pepsi-Cola Company, including Chief Operating Officer, and Executive Vice President of Marketing and Sales.
To read more about Novak and AFE, click here.