CHICAGO, July 25, 2012 (GLOBE NEWSWIRE) -- Yum! Brands Chairman and CEO David Novak has been named "2012 Chief Executive of the Year," an honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his or her peers. The award will be presented at an invitation-only event hosted by NYSE Euronext and the Chief Executive Group at the New York Stock Exchange in August. Prior winners include Bill Gates, Jack Welch, Michael Dell, A.G. Lafley, John Chambers, Anne Mulcahy, Larry Bossidy, Andy Grove and Herb Kelleher.
Nominations for CEO of the Year were garnered from among the 228,000 readers of Chief Executive magazine. The 10 most frequently cited nominations were evaluated and a winner voted upon at a meeting of a peer Selection Committee, which took place earlier this year in New York City.
According to J.P. Donlon, Editor-in-Chief of Chief Executive magazine, "David Novak is a leader who not only promotes a performance culture but owns it as well. He personally reviews 600 of Yum's leaders every year, evaluating both the results they generated and how they've generated them – meaning how well they lived up to the firm's cultural principles."
For the second year, Dr. Thomas J. Saporito, Chairman and CEO of RHR International, advised the Selection Committee. Under his guidance, the group was able to come to a comprehensive conclusion with a process that was methodical, thorough, and based on science.
Meeting at the NYSE in New York City, members of the 2012 CEO of the Year Selection Committee culled from a highly competitive field in selecting this year's honoree.
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