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11MAR201508572991
11MAR201504422029
13MAR201511372619
Michael J. Cavanagh is Co-President and Co-Chief Operating Officer for The Carlyle Group, a global investment firm. He
has held this position since 2014. He is also a member of the Executive Group and Management Committee of The
Carlyle Group. Prior to this, Mr. Cavanagh was the Co-Chief Executive Officer of the Corporate & Investment Bank of
JPMorgan Chase & Co. from 2012 until 2014. From 2010 to 2012, he was the Chief Executive Officer of JPMorgan
Chase & Co.’s Treasury & Securities Services business, one of the world’s largest cash management providers and a
leading global custodian. From 2004 to 2010, Mr. Cavanagh was Chief Financial Officer of JPMorgan Chase & Co.
Operating and management experience, including as president and chief operating officer of a global investment
firm
Expertise in finance and strategic planning
Age 49
Director Since 2012
Co-President and
Co-Chief Operating Officer
The Carlyle Group
Greg Creed is Chief Executive Officer of YUM. He has served in this position since January 2015. He served as Chief
Executive Officer of Taco Bell Division from January 2014 to December 2014 and as Chief Executive Officer of Taco Bell
U.S. from 2011 to December 2013. Prior to this position, Mr. Creed served as President and Chief Concept Officer of
Taco Bell U.S., a position he held beginning in December 2006. Mr. Creed served as Chief Operating Officer of YUM
from 2005 to 2006. He has served as a director of International Games Technology since 2010.
Operating and management experience, including as chief executive officer of Taco Bell
Expertise in strategic planning, global branding, franchising, and corporate leadership
Public company directorship and committee experience
Age 57
Director Since 2014
Chief Executive Officer, YUM
David W. Dorman is the Non-Executive Chairman of the Board of CVS Health Corporation (formerly known as CVS
Caremark Corporation), a pharmacy healthcare provider. He has held this position since May 2011. He is also a
Founding Partner of Centerview Capital, a private investment firm, since July 2013. Until May 2011, he was the
Non-Executive Chairman of Motorola Solutions, Inc. (formerly known as Motorola Inc.), a leading provider of business
and mission critical communication products and services for enterprise and government customers. He served as
Non-Executive Chairman of the Board of Motorola, Inc. from May 2008 until the separation of its mobile devices and
home businesses in January 2011. From October 2006 to May 2008, he was Senior Advisor and Managing Director to
Warburg Pincus, a global private equity firm. From November 2005 until January 2006, he was President of AT&T Inc., a
company that provides Internet and transaction-based voice and data services (formerly known as SBC
Communications). He was Chairman of the Board and Chief Executive Officer of the company previously known as
AT&T Corp. from November 2002 until November 2005. Prior to this, he was President of AT&T Corp. from 2000 to 2002
and the Chief Executive Officer of Concert, a former global venture
created by AT&T Corp. and British Telecommunications plc, from 1999 to 2000. Mr. Dorman serves on the board of
Motorola Solutions, Inc., Georgia Tech Foundation and eBay Inc. He served as a director of AT&T Corp.
from 2002 to 2006.
Age 61
Director Since 2005
Operating and management experience, including as chief executive officer of global telecommunications-related
Non-Executive
businesses
Chairman, CVS
Expertise in finance, strategic planning and public company executive compensation
Health Corporation
Public company directorship and committee experience
Independent of Company
2015 Proxy Statement YUM! BRANDS, INC. 15
SPECIFIC QUALIFICATIONS, EXPERIENCE, SKILLS AND EXPERTISE:
.................................................................................................................................................................................................................................................................................................
SPECIFIC QUALIFICATIONS, EXPERIENCE, SKILLS AND EXPERTISE:
.................................................................................................................................................................................................................................................................................................
SPECIFIC QUALIFICATIONS, EXPERIENCE, SKILLS AND EXPERTISE:
.................................................................................................................................................................................................................................................................................................
MATTERS REQUIRING SHAREHOLDER ACTION
Michael J. Cavanagh
Greg Creed
David W. Dorman
Proxy Statement