Pizza Hut 2008 Annual Report Download - page 25

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23MAR200920295069
Name of Committee Number of Meetings
and Members Functions of the Committee in Fiscal 2008
• Advises the Board with respect to Company
policies and procedures regarding compliance
with applicable laws and regulations and the
Company’s Worldwide Code of Conduct and
Policy on Conflict of Interest
The Board of Directors has determined that all of the members of the Audit Committee are independent
within the meaning of applicable SEC regulations and the listing standards of the NYSE and that
Mr. Grissom, the chair of the Committee, is qualified as an audit committee financial expert within the
meaning of SEC regulations. The Board has also determined that Mr. Grissom has accounting and related
financial management expertise within the meaning of the listing standards of the NYSE and that each
member is financially literate within the meaning of the NYSE listing standards.
Name of Committee Number of Meetings
and Members Functions of the Committee in Fiscal 2008
Compensation: • Oversees the Company’s executive 4
Thomas M. Ryan, Chair compensation plans and programs and reviews
David W. Dorman and recommends changes to these plans and
Massimo Ferragamo programs
Bonnie Hill • Monitors the performance of the chief executive
Robert Walter* officer and other senior executives in light of
corporate goals set by the Committee
• Reviews and approves the compensation of the
chief executive officer and other senior
*Joined Committee in executive officers
January 2009 • Reviews management succession planning
The Board has determined that all of the members of the Compensation Committee are independent within
the meaning of the listing standards of the NYSE and are non-employee directors within the meaning of
Section 16 of the Securities Exchange Act of 1934.
Name of Committee Number of Meetings
Proxy Statement
and Members Functions of the Committee in Fiscal 2008
Nominating and Governance: • Identifies and proposes to the Board suitable 4
Robert Walter, Chair* candidates for Board membership
David Dorman* • Advises the Board on matters of corporate
Massimo Ferragamo* governance
Bonnie Hill* • Reviews and reassesses from time to time the
Thomas M. Ryan adequacy of the Company’s Corporate
Governance Guidelines
• Receives comments from all directors and
reports annually to the Board with assessment
of the Board’s performance
*Joined Committee in • Prepares and supervises the Board’s annual
January 2009 review of director independence
The Board has determined that all of the members of the Nominating and Governance Committee are
independent within the meaning of the listing standards of the NYSE.
Name of Committee Number of Meetings
and Members Functions of the Committee in Fiscal 2008
Executive/Finance: • Exercises all of the powers of the Board in the 0
David C. Novak, Chair management of the business and affairs of the
J. David Grissom Company consistent with applicable law while
Kenneth G. Langone the Board is not in session
7