() or '''Yum!''' is a
Fortune 500 Corporation , that operates
A&W ,
KFC ,
Long John Silver's ,
Pizza Hut , and
Taco Bell worldwide. Based in
Louisville, Kentucky , it is the world's largest quick-service (a.k.a. "
Fast Food ")
Restaurant company in terms of system units—nearly 33,000 restaurants around the world in more than 100 countries and territories.
A&W, KFC, Long John Silver's, Pizza Hut and Taco Bell are global leaders of their respective restaurant categories. Yum!'s global system sales totaled more than $9 billion in
2002 .
Yum! was created on
October 7 ,
1997 , as an independent, publicly owned company, as a result of a spin-off from
PepsiCo , who owned, and franchised the KFC, Pizza Hut and Taco Bell brands worldwide. The chain continues to sell Pepsico beverages and other products.
David C. Novak became Chairman of the Board on
January 1 ,
2001 , and Chief Executive Officer of
Yum on
January 1 ,
2000 . He also serves as President of Yum, a position he has held since
October 21 ,
1997 . Mr. Novak previously served as Group President and Chief Executive Officer, KFC and Pizza Hut from August
1996 to July
1997 , at which time he became acting Vice Chairman of Yum. He is a director of
J.P. Morgan Chase . Novak is a member of the Yum! Brands Executive/Finance Committee.
In ,
2002 , to drive the company's commitment to multibranding. On
May 16 , 2002, the name change became effective after a vote during the company's Annual Meeting of Shareholders. On
June 17 , 2002, YUM executed a two-for-one
Stock Split .
In
2004 and
2005 , Yum! Brands has been the target of boycotts by the
American Decency Association for its advertising on what it calls "trashy shows" and by the
Organic Farmers & Gardeners Union for alleged "sweatshop conditions" among farm workers.
On
February 1 ,
2006 the announcement was made that Yum! Brands had become the first official sponsor of the
Kentucky Derby {Link without Title} , which would henceforth be titled ''The Kentucky Derby, presented by Yum! Brands''.
