Chief Executive Magazine Names Yum! Brands' Novak 2012 CEO of the Year
GREENWICH, Conn., June 27, 2012 /PRNewswire/ -- Chief Executive magazine has announced that David Novak, CEO of Yum! Brands has been named "2012 CEO of the Year," an honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his or her peers.
"Not only is David market- and customer-driven, but he displays a compelling vision with a comprehensive strategy," said Alan Mulally, president and chief executive, Ford Motor, and 2011 CEO of the Year. "And above all else, he caps this with relentless execution."
"David's performance has been outstanding for a very long time. He has an astute global vision, China being a salient example," said Brian Duperreault, president and chief executive of Marsh & McLennan. "More importantly, I am impressed with how he works with his employees and how he develops their potential. It's a great example to us all."
"An exemplary CEO whose leadership is worth emulating," added Christine Jacobs, chairman, president and chief executive of Theragenics.
Under Novak's leadership, Yum! has established itself as a global powerhouse going from approximately 20 percent of profits coming from outside the U.S. in 1997 to more than 70 percent in 2011, while driving one of the highest returns on invested capital in the restaurant industry. Today, Yum! is the leading retail developer in China as well as the largest and fastest growing restaurant company in emerging markets. The Company's track record of success includes at least 13 percent earnings-per-share growth for each of the last 10 years. Novak has created a unique recognition culture along with a leadership training program called "Taking People With You" that has been cascaded around the globe.
Nominations for CEO of the Year were garnered from among the 124,000 readers of Chief Executive magazine. The 10 most frequently cited nominations were evaluated and a winner voted upon at a meeting of a peer Selection Committee, which took place earlier this year in New York City.
Prior CEO of the Year winners include Bill Gates, Jack Welch, Michael Dell, A.G. Lafley, John Chambers, Anne Mulcahy, Larry Bossidy, Andy Grove and Herb Kelleher.
The 2012 CEO of the Year Selection Committee was comprised of Brian Duperreault (CEO, Marsh & McLennan), Fred Hassan (Chairman, Schering-Plough), William Hickey (CEO, Sealed Air), Christine Jacobs (CEO, Theragenics), Alan Mulally (CEO, Ford Motor), William R. Nuti (CEO, NCR), Thomas J. Quinlan III (CEO, R.R. Donnelley), Jeffrey Sonnenfeld (CEO, The Yale Chief Executive Leadership Institute), and James Turley (CEO, Ernst & Young). Tom Saporito, Chairman of RHR International, was an advisor to the Selection Committee.
Novak's selection as 2012 CEO of the Year will be celebrated at an invitation-only event hosted by NYSE Euronext and the Chief Executive Group at the New York Stock Exchange in August.
For an exclusive interview with David Novak, comments from members of the 2012 Selection Committee, a complete list of prior CEO of the Year winners and their comments on CEO leadership, please visit ChiefExecutive.net.
About Chief Executive Group
Chief Executive Group enhances the effectiveness of CEOs and the organizations they lead. The company produces Chief Executive magazine (published since 1977), ChiefExecutive.net, original research, conferences and roundtables that enable top corporate officers to discuss key subjects and share their experiences within a community of peers. Visit ChiefExecutive.net for more information.
About Yum! Brands
Yum! Brands, Inc. (YUM), based in Louisville, Kentucky, is the world's largest restaurant company in terms of system restaurants, with more than 37,000 restaurants operating in 125 countries. KFC, Pizza Hut and Taco Bell are the category leaders of the chicken, pizza and Mexican-style food, respectively. In 2011, the Company added 1,561 new restaurants, primarily in emerging markets, and generated 14% EPS growth, the 10th consecutive year it achieved at least 13% EPS growth. Outside the United States, the Yum! Brands system opened approximately four new restaurants each day of the year, making it a leader in international retail development.
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