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Motley Fool Hidden Gems Investing

What a CEO Learned from Warren Buffett

Motley Fool Hidden Gems Investing

The Motley Fool

Business, Investing

4.33.1K Ratings

🗓️ 1 June 2024

⏱️ 25 minutes

🧾️ Download transcript

Summary

… and other legendary leaders. David Novak is the former CEO of Yum! Brands. He’s also the author of the new book, “How Leaders Learn: Master the Habits of the World’s Most Successful People.” Ricky Mulvey caught up with Novak to discuss: Using power to empower others. Lessons from market-beating executives. Why prioritizing people over results is a winning strategy. Host: Ricky Mulvey Guest: David Novak Producer: Mary Long Engineer: Tim Sparks Companies discussed: YUM, CHDN, SBUX, GE, WMT, HD, LUV, TGT, AMZN, AAPL, MSFT, NVDA, NFLX, GOOG, DASH Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The other thing I did is I went out and I spent, you know, Monday through Friday talking to the people on the front lines, you know, and I'd have these roundtables every morning and asking people what's working and what's not working and I would learn what the problems

0:14.2

are and then what I would do is go to the people who knew how to solve those problems and say

0:18.3

hey let's do it. I'm Mary Long and that's David Novak, the co-founder and former CEO of Yum Brands, which spun off from PepsiCo in the late 90s and operates restaurant brands you know and probably love.

0:33.2

KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill.

0:37.4

David's also a podcast host and author of the new book, How Leaders Learn.

0:41.6

My colleague Ricky Mulvey caught up with him for a conversation

0:44.6

about what he's learned from legendary investors and leaders like Warren Buffett, Howard Schultz,

0:49.8

and others.

0:51.1

Yeah. others. and delivered outstanding results for their investors over a long period of time.

1:03.5

Both in your book and your podcast you recently had on Bill Mud of Churchill Downs,

1:08.2

who is, it's one of this very popular in Kentucky, but for people who are, people who are outside or maybe not as

1:14.3

familiar with horse racing might not think about it as much and one of the things

1:17.8

that he does is I think you asked him about you know what have you learned

1:21.9

about social media and his quick response was I bring in

1:24.6

experts who know about it and I hire them and listen to them and that's a big theme

1:29.3

throughout your book which is listening to experts people you can learn from for specific challenges,

1:34.3

not just groups of highly paid consultants to come in and teach you about your business.

1:38.8

Yeah, and you know the other thing that is interesting about Bill is he talked about how he intended the

1:45.1

masters, how he attended Super Bowls, all these different sporting events because

1:50.1

when the Churchill Downs as as the Kentucky Derby,

1:53.2

they have 150,000 people show up that day.

1:57.5

And one thing that I really learned from that podcast

...

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