Pizza Hut 2012 Annual Report Download - page 48
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YUM! BRANDS, INC.-2013Proxy Statement30
Proxy Statement
EXECUTIVE COMPENSATION
Compensation Discussion and Analysis
Introduction
This Compensation Discussion and Analysis describes our executive compensation philosophy and program, the decisions the Management
Planning and Development Committee (the “Committee”) has made under this program and factors considered in making those decisions.
This Compensation Discussion and Analysis focuses on the compensation of the following Named Executive Offi cers for 2012:
Name Title
David C. Novak Chairman of the Board and Chief Executive Offi cer
Patrick J. Grismer Chief Financial Offi cer
Jing-Shyh S. Su Vice Chairman of the Board and Chairman and Chief Executive Offi cer – China Division
Richard T. Carucci President
Muktesh Pant Chief Executive Offi cer – Yum Restaurants International
2012 Business Highlights
The power of YUM lies in our ability to deliver consistently strong
results. In 2012, our global portfolio of leading brands once again
delivered strong results highlighted by the following:
•
Achieved strong year-over-year growth in earnings per share
(excluding special items) of 13%—marking the eleventh
consecutive year that we exceeded our annual target of at
least 10%
•
Opened a record 1,976 new restaurants outside the UnitedStates
•
Grew operating profi ts by 12% (prior to special items and foreign
currency translation)
•Generated $1.6billion in net income—a new high
Our shareholders benefi ted from our strong year as our total
shareholder return during the 2012 calendar year was 15%.
Relationship Between Company Pay and Performance
Our compensation programs are designed to:
•Serve the long-term interests of our shareholders
•
Support our vision to be the Defi ning Global Company That
Feeds the World
•Pay for performance
•Attract, reward and retain talented leaders
We believe our management team has been a distinctive driver
in YUM’s strong performance over both the short and long term.
Therefore, we provide a very competitive compensation package
to our executives and tie a signifi cant portion of their pay to
performance in order to ensure alignment with the interests of
our shareholders.
For 2012, we highlighted four major growth strategies we have
communicated to investors for several years:
•Build leading brands in China in every signifi cant category
•
Drive aggressive international expansion and build strong
brands everywhere
•
Dramatically improve U.S. brand positions, consistency and
returns
•
Drive industry-leading long-term shareholder and franchisee value
Our compensation program is designed to support these growth
strategies which drive Company profi tability and shareholder value.