From Yum Brands, between 5-10 people moved to corporate BEF; and of course the TOP 2 in power: Steve Davis is Chairman of the Board and Chief Executive Officer; and Harvey Brownlee Pres & Chief Restaurant Operations Officer.
Steve set himself up as CEO and chairman of the Board, plus he got rid any possible threat that might have existed in the ‘old guard’ like the CFO and most Sr VP. He’s got ultimate power. Who really monitors or checks on Steve?
Steve’s promise upon arrival – “I’m not bringing anyone from Yum with me.” Hummm
Very competent, bright, hard working, honest, long time Bob Evans employees were squeezed out, force to early retirement, etc, etc to make way for the Yum infusion. If the Yummies were brilliant & best of the best, it might make sense. But Yummies can’t come close to that dedicated, loyal core that built Bob Evans – those guys had clarity.
They really don’t get BEF’s nitch. Harvey’s “in charge” of the restaurants – not good manager, and not doing even a good job. Plus he’s probably being groomed to take over more stuff that he doesn’t know anything about.
Corporate HR hires incompetents: people who don’t have food or restaurant background directly responsible for restaurant expansion and growth. Hired someone who didn’t even know that the sausage or food products business existed. They’ve got VPs over depts they know nothing about. Seriously.
Moving corporate to New Albany! Columbus’s ‘deal’ was better than New Albany’s, but the move is to New Albany! What’s up with that? Someone needs to dig into that one, careful it might reek.
Steve played Columbus vs New Albany, using the “Texas hold-up” - got what he wanted, corporate a couple miles from his home, and from Harvey’s house, and from Sr VP - HR’s house, among others. It’s to the EAST of New Albany – 22 miles from the old location. Many of the 400 long time employees will struggle to travel the additional miles; can’t afford the expense of living in exclusive New Albany.
Steve’s promise – ‘We’re looking at the demographics of our employees…”
No checks, no balances, no obstacles. Steve’s got power & is surrounded by 'yes' men, while spending BEF money like there is no tomorrow.
RCC...you hit the nail on the head. BEF has become a numbers co. but the problem is they don't understand the numbers! The most important numbers are your assets...the employees. Dan Evans always argued that, the YUM boys think that they are the most important assets...wrong! They will lose most of the loyal emloyees due to expense of travel and higher taxes. What dosen't make sense is that they own the existing property and there is room for 10 - 15 years of growth plus better freeway access and less traffic. Granted it doesn't wear the "New Albany upper class badge" but I don't think that shows on the books or PPS. I think BEF is getting prepped for the Yum lable, IMHO. I feel sorry for the loyal employees that have given their all to make BEF a great business but in these days it's all about the boys at the top!
Good post. Thanks for clearing some things up for me. I didn' think that Steve was bringing anyone with him from Yum Brands. A couple of posters last week was refering to the "YUM BOYS" at the time I didn't know who they were refering to. I've owned this stock since the late 1970's and I hate to see it change much.