Tricon board to vote 'no' on smoking ban at company stores

March 17, 2002

A March SEC filing by Tricon Global Restaurants said its shareholders will vote on a proposed smoking ban at its U.S. company stores. The vote will take place at Tricon's annual meeting, beginning May 16 in Louisville, Ky.

The filing also said that Tricon's board is strongly against the proposed ban.

The filing reported that the Church of the Brethren Benefit Trust, Inc., St. Joseph Health System, Sisters of St. Francis, Christus Health and Congregation of Divine Providence advised Tricon ban smoking in its restaurants because it puts at risk the health of its employees and its young customers.

A smoking ban would place the company at a disadvantage, the filing said, because smoking customers would have to "choose to frequent another establishment, resulting in lost sales and diminished shareholder value."

Tricon has about 6,000 company-owned Pizza Hut, Taco Bell and KFC stores. It also purchased the Long John Silver's and A&W All American Foods chains on March 12.

Topics: Public Companies

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