Mark King, CEO of Taco Bell, shares his experience revolutionizing the sports industry and applying those strategies to the fast food world. He discusses his success in leading Taco Bell through the pandemic and his background in revolutionizing the golf industry. King also talks about navigating lawsuits, building a disruptive brand, and the importance of reenergizing company culture. He reflects on the power of fear and continuous growth in leadership.
Applying lessons from one industry to another can lead to innovative and successful outcomes.
Effectively managing and balancing the needs of diverse franchise owners is crucial for a franchise-based business.
During times of crisis, focusing on adaptability, innovation, and resilience is key to ensuring business survival.
Deep dives
Mark King's Leadership Journey from Adidas to Taco Bell
Mark King, former Adidas North American president and current CEO of Taco Bell, shares his leadership journey and how he applied his experience from the sports industry to the fast food world. He emphasizes the importance of challenging the status quo and disrupting industry norms to drive innovation and growth. King discusses his transition from golf to sports apparel, and later to the restaurant industry. Despite initial skepticism, he wins over the team and focuses on reinvigorating the culture and DNA of Taco Bell. His goal is to create a sense of energy, creativity, and boldness within the company.
The Challenge of Heading a Franchise Model
As the CEO of Taco Bell, which operates on a franchise model, Mark King faces the challenge of engaging with diverse franchise owners who have differing interests and needs. He compares it to navigating a minefield, where different franchisees have unique requirements based on the size of their businesses. King highlights the importance of influencing and bringing the entire system together, maintaining compliance, launching new products, and managing store operations. He stresses the need for adaptability and finding a balance that benefits all franchisees.
Leading Through the Pandemic
Mark King assumed the role of CEO at Taco Bell just before the pandemic hit. He describes the immediate impact on the food and restaurant industry, with the expectation of a two-week shutdown quickly turning into an extended period of uncertainty. King and his team faced the challenge of ensuring the survival of Taco Bell amidst the crisis. They developed innovative strategies, such as introducing new menu items and expanding delivery and drive-thru options to meet changing customer needs. King's focus remained on leading the company through the crisis and fostering resilience and adaptability within the organization.
Revolutionizing the Golf Industry
Mark King shares how he transformed TaylorMade by introducing new products annually, despite industry skepticism. His strategy of continuously lowering price points and offering innovative features helped TaylorMade become a billion-dollar company by 2008.
Driving Change at Adidas
After successfully leading TaylorMade, Mark King took on the challenge of turning around Adidas in the US. He spearheaded the relocation of marketing and product functions to Portland, signed high-profile athletes, and capitalized on the popularity of Kanye West's sneaker collaborations. These strategies helped Adidas North America's revenue increase from $1.5 billion in 2014 to $5 billion in 2018.
On taking what you learn shaking up one industry and applying it to an entirely different industry: Mark King has a reputation for turning businesses around by moving fast on innovative, and sometimes expensive, endeavors. Before his current tenure as CEO of Taco Bell, Mark served as president for Adidas’ long-stagnant North American division, reinvigorating the brand with major athletic sponsorships and a deal with Kanye West. From 2003 to 2014, King was CEO of TaylorMade, which under his leadership became the most profitable golf company in the world.
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