Pizza Hut 2008 Annual Report Download - page 50
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23MAR200920294881
Recommendations (2004). We believe principles for health care reform, such as the IOM’s, are essential if
public confidence in our company’s commitment to its employees’ health care coverage is to be
maintained. We ask shareholders to support this resolution.
MANAGEMENT STATEMENT IN OPPOSITION
TO SHAREHOLDER PROPOSAL
What is the recommendation of the Board of Directors?
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE AGAINST THIS PROPOSAL.
What is the Company’s position regarding this proposal?
Health care reform is an important, but complex, public policy issue that requires thoughtful
discussion and public debate. We know this firsthand because we provide health care coverage to
thousands of employees and their families. Their health and well-being is critically important to us. The
Company also understands that employee health has a direct correlation to productivity and that providing
health insurance enhances our ability to attract and retain employees. As a result, we are constantly
looking for ways to improve the quality and cost-effectiveness of Company-sponsored health care coverage
and to encourage healthy lifestyles for our employees.
Why does the Company oppose this proposal?
Health care reform on a national scale, however, will require action by the U.S. Congress and the
President, and input from both ordinary citizens and experts in health care and health insurance will be
critical to that debate. While we acknowledge the importance of this issue, the Board does not believe that
national health care reform should be addressed through the Company’s annual meeting process. Nor does
the Board believe that our adoption of the broad and vague principles of one organization will contribute
constructively to the public dialogue, will provide better health care solutions for our employees or will
benefit our shareholders.
FOR THESE REASONS, WE RECOMMEND THAT YOU VOTE AGAINST THIS PROPOSAL.
Proxy Statement
What vote is required to approve this proposal?
Approval of this proposal requires the affirmative vote of a majority of the shares present in person or
represented by proxy and entitled to vote at the Annual Meeting.
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