The predecessor of Yum! Brands, Taikang Global Restaurant, Inc., is a business department of American PepsiCo, which was separated from PepsiCo on October 7, 1997 and became an independent public company.
it is authorized to use brands such as KFC, Pizza Hut and TacoBell all over the world.
In 1998, when this catering company with famous brands such as KFC, Pizza Hut and Taco Bell was listed on the New York Stock Exchange independently, Yum! Global Catering Group, the largest catering group in the world, was formally established.
at that time, all shareholders and members of the company may not have thought that the operation and development of Yum! Global Restaurant Group has achieved great success in the past two years.
Today, Yum! is the largest catering group in the world, with more than 33,111 chain stores and 841,111 employees in more than 1,111 countries and regions around the world.
it owns world-renowned catering brands such as KFC, Pizza Hut, Dongfang Libai and Pizza Hut, ranking first in the world in the fields of cooked chicken, pizza, Mexican food, seafood and dessert respectively.
When it was just separated from Pepsi, Yum! Global Restaurant Group not only had to make up for the losses caused by the past, but also faced serious challenges: how to create a corporate culture? How to establish a cooperative relationship between three famous catering brands, rather than a competitive relationship? How to establish employees' confidence in the future development of the enterprise.
At that time, under the co-chairmanship of Mr. Andrakk Pearson, former president of PepsiCo Group, and now CEO of Yum! Group, and Mr. * * * of David Novak, the company maintained a feasible organizational structure before separation in many aspects, and outlined new development goals for the company in the future.
They have taken a series of bold and brand-new measures: KFC, Pizza Hut and TacoBell continue their original operation and management, but they should play a coordinating role with each other; Through the package form, the three brands are jointly promoted, and the raw materials are uniformly purchased and distributed by the company, which controls the balanced expenditure of funds; For the first time, some chain restaurants owned by the company were transferred to franchise partners, and part of the returned funds were concentrated on the development of new restaurants; The senior management personally went to the restaurant to motivate the staff.
Up to now, the group's operating profit margin has increased from 11% three years ago to 16%, and the chain turnover of all three brands has increased in the whole year of 1998 and the first half of 1999, and the group has seen a new scene of prosperity.
David C. Novak took office as chairman and CEO of Yum! on October 1, 2111 and October 1, 2111 respectively.
At the same time, he is a director of JPMorgan Chase.
in March 2112, Yum! announced the acquisition of two brands owned by Yorkshire Global Restaurants, headquartered in Lexington, Kentucky, USA: Edbear and Haizike.
at the same time, the company changed its name to Yum!
In May, 2112, Yum! Global Restaurant Group acquired all the shares of American Adelson Company for a low price of 321 million dollars.
on February 7th, 2119, Yum! officially signed a contract with Jardine Matheson in Hong Kong, and Yum! sold the right to operate KFC in Taiwan to Jardine Matheson.
On October 7, 2111, the Ministry of Commerce approved Yum's application to buy Little Sheep.
on October 11, 2112, Yum!' s acquisition of Little Sheep was finally approved by independent shareholders, and the proposal of Yum!' s privatization of Little Sheep was finally passed with a high vote of 98.81%.
in may 2111, yum announced that it planned to acquire the equity of little sheep company at a price of hk $6.51 per share.
on October 7th, the Ministry of commerce approved the acquisition plan.
In February, 2112, Shanghai Food Safety Office reported that in 2111-2111, Yum * * * conducted self-inspection on 19 batches of chicken products of Shandong Liuhe Group, among which 8 batches were unqualified in antibiotic residues.
on August 9, 2115, Yum! announced that Su Jingshi, chairman and CEO of its China division, would retire.
This is the first time that Yum! China has changed coaches since it was founded 26 years ago. It was replaced by MickyPant, 61 years old.
Su Jingshi will serve as an administrative consultant until February 2116, and retain his position on the board of directors to ensure a smooth and seamless handover.
At the same time, Yum! Global announced that Qu Cuirong, former president of KFC China, and Gao Yao, former senior vice president and brand general manager of Pizza Hut China, were promoted to the CEO of the brands they led, reporting directly to MickyPant.