Church’s Chicken chief executive officer Jim Hyatt knows the quick-service restaurant industry inside and out. He started at Burger King in 1972 and has never worked outside of the restaurant industry. While social media and globalization change how restaurants and their franchisees work, many of the same basics Hyatt learned in 1972 still apply. He discusses what the modern CEO needs to consider, and how this applies in the franchise restaurant business.
What strategies, trends, or ideas are shaping the chief executive officer role today?
Jim Hyatt: The CEO today must be observant of the culture within the organization. Social media can expose a brand to decline or push it beyond the resources of traditional marketing. So culture oversight and participation have to be high on the CEO job description. I also think CEO participation is important right now. My teams would tell you I spend an equal amount of time flying at all altitudes. Being strategic is required as a CEO but also being comfortable to be in kitchens and dining rooms to ensure the direction from the top is received and working is essential.
The new economy can’t afford CEOs to stay in board meetings. Today’s restaurant CEO needs to participate in all levels to ensure time and focus are integrated and clarified where necessary to protect margins. The new economy is more putative on brands that make mistakes.