Tricon Global Restaurants Appoints Board of Directors

LOUISVILLE, KY, August 19, 1997 – Tricon Global Restaurants, Inc., announced today appointments for its new Board of Directors. The Board appointments will become effective on October 6, the date PepsiCo will spin-off the worldwide restaurant company from its packaged goods operations.The newly formed Board of 12 Directors will include two Tricon officers: Andrall E. Pearson, Tricon’s Chairman and CEO and former President of PepsiCo; and David C. Novak, Tricon’s Vice-Chairman and President and former Group President and CEO of KFC and Pizza Hut, North America.

Also joining the Board are 10 outside Directors (listed alphabetically):

  • D. Ronald Daniel, Treasurer, Harvard University, and Director and former Managing Director of McKinsey & Company;
  • James Dimon, President, Chief Operating Officer and Director of Travelers Group;
  • Massimo Ferragamo, President and Vice Chairman of Moda Imports, Inc., the U.S. subsidiary of Salvatore Ferragamo Italia, a luxury goods producer and retailer;
  • Robert Holland, owner and Chief Executive Officer of Workplace Integrators, Michigan’s largest steelcase office furniture dealer;
  • Sidney Kohl, former Chairman of Kohl’s Supermarkets and founder of Kohl’s Department Stores.;
  • Kenneth G. Langone, founder, Chairman of the Board and Chief Executive Officer of Invemed Associates Inc., an investment banking firm, and founder of Home Depot, Inc.;
  • Jackie Trujillo, Chairman of the Board of Harman Management Corp., one of KFC’s largest franchisees;
  • Robert J. Ulrich, Chairman and Chief Executive Officer of Dayton Hudson Corporation and Target Stores;
  • Jeanette S. Wagner, President of Estee Lauder International, Inc., the largest subsidiary of The Estee Lauder Companies Inc.; and
  • John L. Weinberg, Senior Chairman of Goldman, Sachs & Co.

In making these appointments, Mr. Pearson said “the most important feature of our new Board is that each new Director offers unique expertise and background pertinent to our global restaurant business. Each is a worldclass leader in finance, retail and consumer goods, and we are fortunate to have these outstanding individuals join the Tricon Board.”

Tricon, with about $10 billion in annual revenue and $20 billion in systemwide sales, includes the global Pizza Hut, KFC and Taco Bell brands. It is the dominant leader in pizza, chicken and Mexican food, with nearly 30,000 restaurants worldwide.


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