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Yum! CEO stresses importance of recognition
March 10, 2009
LOUISVILLE, Ky. -- Yum Brands Inc. CEO David Novak outlined his management and leadership philosophy for a gathering of 1,200 businesspeople Tuesday night at the Kentucky Center in Louisville, Ky.
Yum! operates the KFC, Taco Bell, Pizza Hut, Long John Silver's and A&W brands.
Novak gave his speech at the annual meeting of Greater Louisville Inc., the metro chamber of commerce and economic development agency for the Louisville, Ky.-Southern Indiana metropolitan area.
"Do what you love, and do whatever you can to work around great people," Novak said. "I was fortunate enough to work for five people who became CEOs of Fortune 500 companies."
In a nod to technology, audience members could send questions to Novak via text message. After his presentation, Novak answered several of those questions from the stage.
Novak's talk was briefly interrupted by protesters from the People for the Ethical Treatment of Animals. The crowd booed the protestors, who shouted "David Novak tortures animals!" before being hustled away by security guards.
Novak stressed the importance of recognizing performance in others during his talk. At Yum!, Novak gives away rubber chickens or sets of oversized false teeth to employees in recognition of outstanding performance.
The walls and ceiling of Novak's office at the Yum headquarters are decorated with more than 1,000 pictures of employees he has recognized for performance.
"I believe the best way to exercise the privilege of leadership is through recognition," he said. "If you're not taking time out to recognize your people, and you're not having a fun time doing it, you are missing out on the most powerful thing you can do as a leader."
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