Word: pepsico
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Certainly Yum knows how to cross borders. Since it was spun off from PepsiCo in 1997, the company has radically transformed its overseas business. With Americans stuffed on fast-food options and domestic sales growth a skinny 2% annually, companies like Yum must go global to give Wall Street what it craves. A decade ago, stores overseas brought in less than 20% of profits; today it's 50%. In 2006 the company earned $824 million in net income on total revenue of $9.6 billion...
...story of Yum Brands shows that in the global economy, it's not so much what you sell but how you sell it. Ten years ago, Colonel Sanders was losing the global fast-food war to the Golden Arches. PepsiCo had spread its restaurant division too thin, planting capital-consuming, company-owned-and-operated stores in 32 countries instead of franchising them as it does in the U.S. But PepsiCo did set up valuable infrastructure, including supplier relationships and local management teams. "PepsiCo laid down the tracks but hadn't yet taken advantage of the opportunity," says Novak. In swift...
...plain-talking, cheerleading executive who boasts of never having attended business school. He's given to goofy team-building tactics like passing out rubber chickens (and $100) to KFC managers whose stores are performing well. A former $7,200-a-year advertising copywriter, Novak took his marketing chops to PepsiCo in 1987. Though he suffered his biggest failure there--Crystal Pepsi, which he still contends was the right idea at the wrong time--he was handed the reins to the KFC and Pizza Hut units in 1996. He chronicled a childhood spent in 32 trailer parks and an otherwise unconventional...
Although the Yazegi operation is insignificant within PepsiCo's $5.5 billion sales of beverages outside the U.S., politics loom large for American companies in the Middle East. Pepsi and Coke have been in Arab markets for decades. Under pressure from Jewish lobby groups, Coca-Cola opened in Israel after 1966 and was slapped on an Arab boycott list from 1967 to 1991. Pepsi opened in Israel only in 1992, after the boycott was lifted, giving rise to the often-repeated slogan in the Arab world that "Coke is for Jews, Pepsi is for Arabs." Pepsi didn't escape unscathed...
...PepsiCo's Middle East segment, which includes snack foods as well as soft drinks, "has experienced noteworthy growth and has developed into one of PepsiCo's key markets and engines for growth," notes Bear Stearns analyst Justin Todd Holt. It's led by Pepsi veteran Saad Abdul-Latif, who has skillfully and diplomatically steered the business in these complicated markets...