From the “epic fail” of Crystal Pepsi to the global growth of Pizza Hut, former CEO David Novak is sharing the lessons of his career with a new generation of executives.
In his 17 years as CEO of Yum Brands , the fast-food corporation that operates KFC, Pizza Hut and Taco Bell, David Novak doubled the company’s size, increased its market capitalization 800% and broadened its reach overseas. Before stepping down in 2016, he was ranked among the best CEOs in the world by Barron’s and Harvard Business Review. But now that he is a leadership coach, Mr.
“I thought I was the genius of all time,” Mr. Novak, 69, says over the phone from his home in Louisville, Ky., where he lives with his wife, Wendy. After noticing that colas were losing market share to clear drinks, he dreamed up a colorless Pepsi and pushed it into stores in time for a big Super Bowl campaign. Pepsi-Cola distributors quibbled that the soda didn’t taste enough like Pepsi, but Mr. Novak brushed them aside. “I was a heat-seeking missile,” he recalls.
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