Yum! Brands

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Yum! Brands, Inc.
Type Public (NYSE: YUM)
Founded 1997 as Tricon Global Restaurants, Inc.
2002 - rename, merger of Tricon and Yorkshire
Headquarters Louisville, Kentucky, US
Key people David C. Novak
(Chairman and CEO)
Sam Su
(Vice Chairman and President)
Emil Brolick
(Chief Operating Officer)
Anne Byerleine
(Chief People Officer)
Rick Carucci
(Chief Financial Officer)
Revenue ▲ US$10.416 billion (2007)
Net income ▲ US$909 million (2007)
Employees 336,000 (as of December 2008)
Divisions A&W Restaurants
Dong Fang Ji Bai
KFC
Long John Silver's
Pizza Hut
Taco Bell
WingStreet
Website www.yum.com

Yum! Brands, Inc. (NYSE: YUM) or Yum! is a Fortune 500 corporation, that operates or licenses Taco Bell, KFC, Pizza Hut, Wingstreet, and Long John Silver's restaurants worldwide, and A&W Restaurants (excluding A&W in Canada). Based in Louisville, Kentucky, it is the world's largest fast food restaurant company in terms of system units—over 36,000 restaurants around the world in more than 110 countries and territories.[1] In 2008, Yum!'s global sales totaled more than US$11 billion.


Contents

[edit] History

Yum! was created on October 7, 1997, as Tricon Global Restaurants, Inc. an independent company, as a result of a spin-off from PepsiCo, which owned and franchised the KFC, Pizza Hut and Taco Bell brands worldwide. Because of the company's previous relationship with Pepsi, Yum! Brands has a lifetime contract with PepsiCo, with notable exceptions being the contract of A&W Restaurants with Dr Pepper Snapple Group to be the exclusive restaurant provider of A&W Root Beer, and the contracts of franchisees such as HMSHost and college-operated locations with Coca-Cola which override Yum's lifetime PepsiCo contract.

Yum! president David C. Novak is a director of J.P. Morgan Chase and became chief executive officer of Yum! Brands on January 1, 2000 and chairman of the board on January 1, 2001; he is also a member of the Yum! executive/finance committee.

In March 2002, Tricon announced the acquisition of Lexington, Kentucky-based Yorkshire Global Restaurants, owner of the Long John Silver's and A&W All-American Food chains and its intention to change the company's name to Yum! Brands, Inc. On May 16, 2002, the name change became effective after a vote during the company's annual shareholders meeting, and on June 17, 2002, Yum! executed a two-for-one stock split. Shortly afterwards, due to Yum!'s lifetime contract with Pepsi, Long John Silver's and A&W Restaurants (both of which previously served Coca-Cola) switched to Pepsi products once their franchises contracts expired, with A&W retaining A&W Root Beer from a separate deal with Dr Pepper Snapple Group.

In 2004 and 2005, Yum! Brands was 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.[2]

The growth of Yum! Brands throughout the United States has slowed from its previous rapid expansion because the chain has saturated most of the domestic market. The future growth of Yum! Brands is targeted mainly at other countries; China in particular has a large population and is enjoying increases in income.[3]

A single Yum! restaurant facility co-branded as Taco Bell and KFC in San Francisco, California
A Taco Bell and a KFC on adjacent lots in Burlington, North Carolina

[edit] Brands

[edit] See also

[edit] Notes

  1. ^ About Yum! Brands - Yum! Brands, Inc
  2. ^ Right Wing Extremists from Yum Brands (Taco Bell) Exploit Florida Farm Workers
  3. ^ Fool on Call: Yum! Brands' Wall of China

[edit] External links

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Yum! Brands, Inc.
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