NEW YORK (AP) — Yum CEO David Novak saw his pay package drop 22 percent to $10 million last year as the parent company of KFC, Taco Bell and Pizza Hut fell short of its performance targets.
The drop in pay from $12.8 million the previous year was the result of a lower performance-based bonus, reflecting the troubles that have beset the company's important China division.
Yum Brans Inc., based in Louisville, Ky., is the biggest Western fast-food operator in China with its KFC restaurants. But in late 2012, sales began to nosedive in the region after a report on Chinese TV said some of Yum's suppliers were giving chickens unapproved levels of antibiotics.
The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.