AC

This is the second in a series of occasional interviews with top executives on global competition. This month, David Novak, 59, chief executive of fast-food giant Yum Brands — with 36,000 restaurants in 117 countries under brands such as KFC, Taco Bell and Pizza Hut— talks about growing up with fast food and what he sees as the biggest retail opportunity of the 21st century. His answers were edited for clarity and space. Q: Have you always been a fan of fast food? A: Like many of our customers, I grew up with the brands. My family loved a bucket of Kentucky Fried Chicken. I took dates to Pizza Hut. When I was in college, every Sunday, I used to go and chow down on six or seven tacos, maybe eight (at Taco Bell). Q: How do you successfully sell fried chicken, pizza and tacos in 117 countries? A: You have to have food that people love. A lot of people can't travel to the United States, but they want to experience U.S. brands. Q: Are taste buds in emerging markets different from...