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David Novak, Yum Brands CEO, on the company's continued growth and success, and what's ahead for its brands in 2012.
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Thank you -- Yum! Brands shares hitting a 52 week Friday in fact a five year hide it -- just look at the notes here.
And with us now to talk about the company's success is David Novak Yum! Brands chairman -- -- he is author of taking people with -- only way to make.
Big things happen congratulations on the book but thank you start with the stock price what's up -- that well I think.
We have a very unique opportunity and in in the world -- in the sense that were multinational company we're just -- -- explicitly outside the United States.
Particularly in China were last year we opened up 600 restaurants 15100 restaurants in total.
We just got a booming business we've made.
India recently a separate division because we see lots of growth there and then.
Africa last year we added five new countries so we have a big base in South Africa so we're we're just growing very rapidly.
You looking at the United States just to give you an idea of the growth potential we have we have sixty yum restaurants suffer per million people in China -- still less than three.
And all these other countries and I just mentioned is less than three and we see huge huge upside as we go forward.
Right well this is not here but I want you to look over -- camera just if you can talk directly to work and you'll be able here there's you.
You -- -- I -- it for we need somebody ideology.
Well.
You've -- David in honor of you being here but not in -- I had KFC last night at midnight I don't Iraq.
You know it's called research right after the have to do that research.
Let's talk that you just outlined some very strong global opportunities you know everything from China where you could really expense of 600 stores possibly is here.
But there is the perception there's a little bit of -- here in North America.
If so what are that they -- what's your what are the problems what are the issues and what are you as we know -- was a -- leader would be doing attacking this issue.
Well you know obviously the United States -- you know this is revenues slow recovery in consumer sentiment and confidence is still -- 2009.
Levels.
But they -- that they of the consumer response to innovation and what we're focused on end in 2012 was bringing lots of great news to to our customers.
For example -- Taco -- this year you will be able to have a new taco shell.
That tastes exactly like not to -- three doses we partnered up with Frito-Lay and we'll have a very unique offering there.
Who were bringing forward lots of news and we find that if you have the right kind of innovation you can thrive in any environment.
The other thing that we're continually doing lives is building people capability because we're only as good is that the people that we have -- One of the things I'm particularly excited about -- like I did you write this book called taking people with you.
And we're gonna take a leadership principles and that booking castigate -- all around the world we're gonna do it eleven different languages and you know we're gonna try to have every one of our restaurant managers develop a plan from beginning in on how to really improve customer service -- at our restaurants.
And that's what I talked about the book taking people with you take an action plan on how to get results -- based on the leadership program then I've -- for -- The last fifteen years and our company so we're excited about that this is a year taking people with you for operational excellence -- Yum! Brands.
Now David the president spoke today about companies like yours and have a lot of business overseas he wants to provide tax credits to bring some of the capital back home.
I.s as you might know there was plan for tax repatriation holiday and for companies that have a lot of cash overseas still -- -- them to bring it home.
I asked Gene Sperling the president's economic advisor.
About whether there should be a tax holiday.
Earlier in the year here's what he told us about that play the tape.
You know they're just is absolutely no evidence to suggest.
But doing a -- repatriation holiday would in any way meaningful way helped create jobs or investment -- slightly.
They're already sitting on OK one to two trillion of pastor -- a very low.
Well -- refresh rate environment -- and this is not much out there -- -- -- disagree with that assessment I can tell you about why they are he says not -- kind of.
What about the business people would that make any difference in your business plans if there was a -- -- I think did you know -- -- set regardless of any kind of environment but I think anything that you can do to create a more friendly environment for.
United States companies compete is gonna have to help the country.
And right now I think you know there are some country companies that that would make a positive difference and it really wouldn't impact our business that much.
-- If you could pick anything David then that would impact your business that could be -- -- from the government organizations like administration or from that.
Government level what would it be.
I think that there's just have to be an all out assault on how -- we really get this economy -- one way beyond 2% mourn the 5% range we.
When things I talk about my book taking people with his importance of -- step change goals.
We should be really look at how we would get more explosive growth in this company that the country this is the greatest country in the world.
We have more resource is more power than anyone in the world.
And we gotta get this business and our company's.
Country companies in this country growing again in and it's possible and it will happen.
Yahoo! that's good stuff like what about it look just lowering the corporate tax rate I -- something -- simple I think something like that could work but you know I think what we need is to get the smartest people in the room.
Really get great ideas and really have a plan to go forward it's not something you turn over to congress.
We need to best minds -- really come up with the best possible approach and then we need to take some action -- planning go for learn from a winner.
David Novak is certainly done that would Yum! Brands great what's the name of the book again it's taking people with -- the only way to make big things -- David thank you so much thank you guys seeing came at --
