David C. Novak
David Novak | |
|---|---|
| Born | October 30, 1952 Beeville, Texas, U.S. |
| Occupation(s) | Entrepreneur, writer, philanthropist |
| Known for | Founder and CEO of David Novak Leadership; Co-founder and former CEO of Yum! Brands Inc. |
David Charles Novak (born October 30, 1952) is a prominent American entrepreneur, writer, and philanthropist. He is the founder and chief executive officer of David Novak Leadership and previously served as co-founder and CEO of YUM! Brands Inc.
Early life and education
Born in Beeville, Texas in 1952, Novak experienced a childhood marked by frequent relocations due to his father’s role as a government surveyor. By age 12, his family had lived in 32 different trailer parks across 23 states, an upbringing he attributes to the development of his leadership abilities.
He graduated from the University of Missouri with a bachelor's degree in journalism, complemented by a minor in advertising. During his time there, he was affiliated with the Delta Upsilon fraternity.
Career
Novak played a pivotal role in founding Yum! Brands and led the company as CEO from 1999 until January 2016. Throughout his tenure, he oversaw a doubling of the restaurant count to 41,000 locations, expanded the company’s market value from under $4 billion to close to $32 billion, and positioned Yum! as an industry leader in return on invested capital.
Prior to Yum!, Novak held senior executive positions at KFC, Pizza Hut, and PepsiCo, including roles such as Chief Operating Officer and Executive Vice President of marketing and sales. His career began as an advertising copywriter at the Ketchum agency, followed by an executive vice president and director position at Tracy-Lock/BBDO, where he managed key accounts like Frito-Lay and Pepsi-Cola.
Novak is recognized for developing Crystal Pepsi in 1992; although it did not succeed commercially, he regards the project as an important lesson on balancing innovation with market demands.
Honored as Chief Executive magazine’s 2012 Chief Executive of the Year, Novak established David Novak Leadership in 2016. This initiative delivers digital leadership development through online courses, podcasts, blogs, and video content, focusing heavily on employee recognition as a tool to enhance engagement and productivity. He authored O Great One! A Little Story About the Awesome Power of Recognition to advocate this approach.
In June 2022, Novak became part of a consortium that acquired Louisville's Valhalla Golf Club from the PGA of America.
His philanthropic efforts include founding Lead4Change—the largest privately funded leadership service program for middle and high school students—alongside Global Game Changers and The Novak Leadership Institute at the University of Missouri. Together with his wife, he contributed $21.6 million to establish the institute within the School of Journalism.
Novak has written three books on leadership, including the New York Times bestseller Taking People With You: The Only Way to Achieve Big Things and The Education of an Accidental CEO: Lessons Learned from the Trailer Park to the Corner Office.
Awards and honors
Novak’s impact on the business world has been widely acknowledged through numerous distinguished accolades. These include being named "2012 CEO of the Year" by Chief Executive Magazine, recognition among the "30 Best CEOs" globally by Barron's, inclusion in Fortune's list of "Top People in Business," and ranking among the "100 Best-Performing CEOs in the World" by Harvard Business Review. In addition, he received the Horatio Alger Award in 2015 for his philanthropic contributions and dedication to advancing higher education, earning lifetime membership in the Horatio Alger Association.
Publications
- Novak, David C. The Education of an Accidental CEO (2007), Crown Business, ISBN 9780307393692
- Novak, David C. Taking People with You (2012), Portfolio Hardcover, ISBN 978-1591845911
- Novak, David C. O Great One! A Little Story About the Power of Recognition (2016), Portfolio Hardcover, ISBN 0399562060