Person to Watch
Greg Creed
We said to keep an eye on Irvine-based Taco Bell Corp. Chief Executive Greg Creed as he began overseeing the brand worldwide in January.
Creed must’ve done something right, because in January 2015 he heads to Louisville, Ky., to assume chief executive duties at Taco Bell parent company Yum! Brands Inc.
He led Taco Bell through expanded beverage offerings this year, its first breakfast menu, and a big update of its app.
He was immune to international troubles at Yum!—primarily beef supply issues for its China operations—which he must now address directly.
Yum! has about 40,000 locations of its Taco Bell, Pizza Hut and KFC fast-food restaurants overseas.
In those duties, Creed will work closely with Brian Niccol, who succeeds him in January at Taco Bell: The Mexican-style fast-food operator plans to add 1,300 restaurants and $2 billion in sales in international markets by 2023.
Company to Watch
Del Taco LLC
We said Lake Forest-based Del Taco LLC was the company to watch, on the strength of its rebranding, which focused on fresh ingredients.
Operations efforts at the time included a new senior vice president of operations, redesigned restaurants, and more employee training and guest surveys, as well as a new low-cost menu to draw cost-conscious consumers and boost upselling.
The moves attracted buyout speculation midyear: In June, reports surfaced that
Del Taco’s owners were shopping the
chain, seeking to sell it for about $500 million.
In a hot market for restaurant chains, no buyer emerged, and later this year Del Taco said it would boost incentives for new franchisees and seek to add 28 locations in the southeast U.S.
That growth and strong public offerings by two OC-based chains this year—with more expected nationally in 2015—means the window hasn’t closed for Del Taco.
