百胜餐饮集团YUM! Brands, Inc. (YUM) 2014年年度报告「NYSE」.pdf

1、Yum!Brands 2014 Annual ReportCONTENTSDEAR PARTNERS|1CHINA DIVISION|25KFC DIVISION|6PIZZA HUT DIVISION|7TACO BELL DIVISION|8INDIA DIVISION|9ON THE GROUND FLOOR OF GLOBAL GROWTH|10-13HUGE HEART|14YUM!FUTURE BACK VISION|15YUM!DYNASTY GROWTH MODEL|16Since our company was spun off from PepsiCo in 1997,I

2、have had the privilege of leading our quest to become the Defining Global Company that Feeds the World.Over this time,our compound annual shareholder return has been 16%and we have been recognized among elite global companies for our leadership capability,recognition culture and ability to perform a

3、cross the globe.Growth opportunities outlined in this report abound at Yum!Brands.Although 2014 results fell short of our expectations,Im confident our growth model is intact and we are well positioned to deliver at least 10%annual EPS growth on a sustainable basis.On January 1,I stepped down as CEO

4、 and will serve as Executive Chairman and Im pleased and proud that Greg Creed will be my successor.Greg has everything it takes to be an outstanding CEO and take our company to the next level.First and foremost,he walks the talk of our culture and will continue to grow and develop it further.Next,h

5、e is a visionary business leader with a 20-year track record of success at Yum!.Over the past 9 years,Greg has transformed Taco Bell into an industry leader,elevating its esteem and establishing top-tier customer service levels.He is a breakthrough thinker,launching day parts like Fourth Meal and br

6、eakfast,and introducing major product lines such as Doritos Locos Taco and Cantina Bell.Importantly,Greg has a passion for our global business,with deep international experiences at Unilever and at KFC and Pizza Hut in Australia and New Zealand.He is a well-rounded executive,having previously served