Institutional Investor Survey Names Yum! Brands’ Richard Carucci #1 Chief Financial Officer in the Restaurant Industry
LOUISVILLE, KY.– Yum! Brands, Inc. (NYSE: YUM) today announced that Richard (Rick) Carucci, Chief Financial Officer, was recognized by Institutional Investor’s 2009 America’s Best CFOs survey and ranked #1 in the restaurant industry for defining and executing the Company’s strategies while delivering results during these challenging economic times.
Institutional Investor’s seventh annual ranking of America’s Best CFOs identifies the top finance directors in each of 56 sectors within nine categories. The results are based on the responses of nearly 650 investment professionals at more than 350 of the world’s most influential money management firms. According to the Magazine, Carucci and the other top CFOs are taking aggressive action to ensure that their companies are in a position to increase their market share when the economy recovers.
“Rick is an outstanding strategic thought leader, helping Yum! Brands deliver consistently strong results,” said David Novak, Chairman and CEO, Yum! Brands, Inc. “Yum is generating unparalleled international new unit development, significant free cash flow and an industry-leading return on invested capital.”
“This honor recognizes the incredible world-class talent throughout our global finance team,” said Carucci.
Yum! is building a vibrant global business by focusing on four key business strategies including: building leading brands across China in every significant category; driving aggressive international expansion and building strong brands everywhere; dramatically improving U.S. brand positions, consistency and returns; and driving industry-leading, long-term shareholder and franchisee value. Outside the United States in 2008, the Yum! system opened more than four new restaurants each day of the year, making it the largest retail developer in the world.
Yum! Brands 2008 results demonstrated the Company’s consistent record of success with 14 percent Earnings Per Share (EPS) growth, marking its seventh straight year of delivering at least 13 percent growth and exceeding its 10 percent EPS growth target. For the full year 2008, Yum! grew worldwide system sales 7 percent and same store sales 3 percent, contributing to 21 consecutive quarters of same store sales growth. The Company strengthened its claim as the number one retail developer of new units outside the United States by opening a record 1,495 units, the eighth straight year it opened more than 1,000 new units. The Company also returned nearly $2 billion to shareholders through its dividend and share repurchase programs and continues to be an industry leader in Return on Invested Capital with an all-time high of 20 percent ROIC in 2008.
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