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Using Experience to Develop Leadership Talent: How Organizations Leverage On-the-Job Development by Morgan W. McCall, Jr., Cynthia D. McCauley

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CHAPTER FOUR

Developing Leaders at All Levels at Yum! Brands

J. Tim Galbraith and Jim Howard

In 2008, Yum! Brands, Inc., began its second decade as an organization, having spun off as a separate company from PepsiCo in 1997. By all measures, the first decade had been very successful, having added more than seven thousand restaurants, grown operating profits by 9 percent CAGR, improved ROIC from 8 to 20 percent, paid down almost $3 billion in debt, and increased our stock price by 500 percent. It would have been very easy for us to sit back and say, “Let's keep doing what we've been doing and hope the next ten years are just as successful!” But our CEO, aware of the dangers of complacency, challenged the organization to begin a “second set” in ...

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