LOUISVILLE, KY, May 15, 2008 – Yum! Brands, Inc. (NYSE:YUM) announced today the appointment of Robert D. Walter, 62, to its Board of Directors. Walter is Founder and Executive Director of Cardinal Health, Inc. (NYSE: CAH), a global provider of products and services that improve the safety and productivity of health care. The appointment is effective today.
“Bob Walter is an extraordinary business leader who has built one of the world’s great companies from scratch. His entrepreneurial spirit and constant focus on customer service will add tremendous value to our Board of Directors,” said David C. Novak, Yum! Brands Chairman and Chief Executive Officer.
Walter founded Cardinal Health at the age of 26, transforming the company from its inception as a food wholesaler into the leading provider of products and services supporting the health care industry. Today, Cardinal Health is ranked #19 on the Fortune 500 list, employing more than 40,000 people on five continents with annual revenues in excess of $87 billion. Listed on the New York Stock Exchange, Cardinal Health went public in 1983 at a split-adjusted price of $1.04 per share and has attained a better than 5,000 percent increase in share value since that time. Walter served as Chief Executive Officer until April 2006. He serves on the Board of Trustees of Battelle Memorial Institute and Ohio University and on the Board of Directors of American Express .
CONTACT: Yum! Brands, Inc.
Analysts are invited to contact:
Tim Jerzyk, 502-874-8006
Senior Vice President, Investor Relations/Treasurer
Pat Grismer, 502-874-8320
Vice President Investor Relations/Corporate Strategy
Quan Nghe, 502-874-8918
Director Investor Relations
Amy Sherwood, 502-874-8200
Vice President Public Relations
Yum! Brands, Inc.
Yum! Brands, Inc., based in Louisville, Kentucky, is the world’s largest restaurant company in terms of system restaurants, with more than 35,000 restaurants in over 100 countries and territories. The company is ranked #253 on the Fortune 500 List, with revenues in excess of $10 billion in 2007. Four of the company’s restaurant brands – KFC, Pizza Hut, Taco Bell and Long John Silver’s – are the global leaders of the chicken, pizza, Mexican-style food and quick-service seafood categories, respectively. Outside the United States, the Yum! Brands system opened about four new restaurants each day of the year, making it the largest retail developer in the world. The company has consistently been recognized for its reward and recognition culture, diversity leadership, community giving, and consistent shareholder returns. Since its spin-off as a publicly traded company in 1997, its stock has quintupled. Last year, the company launched the world’s largest private sector hunger relief effort, in partnership with the United Nations World Food Programme and other hunger relief agencies. This effort helped save over 1.6 million people from starvation in remote corners of the world, where hunger is most prevalent.