Pizza Hut 2015 Annual Report Download - page 10

10
With all this progress you can see why I am very excited about what’s happening at our company. We are
undertaking the biggest strategic move in the history of Yum! with the planned spin-off of our China business.
We’re confident this will create two powerful, optimally-structured, independent companies with unique
investment profiles. And, I want to assure you that while the spin-off transaction is critically important we’re
not going to let it distract us from running the business in China or anywhere else.
All three of our brands have significant opportunities for growth as
they progress along the journey to brand excellence. We expect
to achieve 10% growth in operating profit in constant currency
this year, which includes the benefit of the 53rd operating week,
and are setting up two separate companies that will lead the
restaurant industry going forward. Yum! is in a unique position. We have three iconic brands and are making
them even stronger. As you’ve heard me say before, my goal as CEO is to build three global, iconic brands
that people trust and champion. We are well on our way to achieving this, led by our brand positionings,
courageous leadership and committed team members and franchisees. Needless to say, there is a lot to be
excited about at Yum! and I could not be more pleased to lead this company into its next phase.
Finally, I want to take the opportunity to thank several senior executives who are retiring from Yum!, each
of whom made significant contributions to the company for many years. First and foremost, David Novak,
who will step down as Executive Chairman in May, completing his retirement plan. As co-founder, Executive
Chairman and former CEO, David’s contributions to this company are far too many to put into words.
He has created a world-class company, renowned recognition culture and high-performance orientation that
will stand the test of time. As a result, our shareholders were well-rewarded during his
tenure. David served as a caring and inspirational coach and mentor to many, including
me. I thank him for his visionary leadership and for entrusting our company to the next
generation of leaders. I’d also like to thank Sam Su, who retired in August from Yum!
China as Chairman and CEO, and as Vice Chairman of Yum! Brands. Sam is a true
pioneer who led the tremendous growth of our China business, creating one of the
finest restaurant companies in the world. Lastly, I’d like to recognize Massimo Ferragamo, who also will be
stepping off the Board. He joined the company at its inception and has been an invaluable Director since
that time. We owe each of them a debt of gratitude and wish them continued success and happiness.
And of course, I thank our Board of Directors, employees and franchisees around the globe, whose
contributions are truly inspiring and who are helping Yum! Feed The World.
Cheers,
“We have three iconic
brands and are making
them even stronger. “
GREG CREED CHIEF EXECUTIVE OFFICER
YUM! BRANDS, INC.
FEED
THE
WORLD