Bachelder’s story, documented in her book, Dare to Serve: How to Drive Superior Results by Serving Others, is the most compelling case study to showcase the power of servant leadership to reinvent a company from the inside out. This was also compelling enough for me to award her the No.1 ranking.
When she was named CEO in 2007, guest visits had been declining for years, restaurant sales and profit trends were negative, and the company stock price had dropped from $34 in 2002 to $13. The brand was stagnant, and relations between the company and its franchise owners were strained.
By 2014, sales were up 25 percent, profits up 40 percent. Market share had grown from 14 percent to 21 percent, and the stock price was over $40 (it is holding at $78 as of this writing). The franchisees were ecstatic with the turnaround and began reinvesting in the brand, many remodeling their restaurants and building new ones around the world.
The difference?
Bachelder says that it was a conscious decision to create a new workplace (with rigorous measures in place) where people were treated with respect and dignity, yet challenged to perform at the highest level.
Bachelder outlines her philosophy for transforming Popeyes in a nutshell: “We needed to serve the people who have invested the most in Popeyes.” This meant Bachelder and her team shined the spotlight on the restaurant owners, listening and responding to their needs. Self-serving leaders were filtered out as collaboration increased and people were valued.
By improving the franchisee experience through the practices of servant leadership, the customer experience became richer and more satisfying, leading to more loyal customers.
Because of this turnaround success, Bachelder was the recipient of the 2015 Norman Award by the U.S. restaurant industry, which recognizes an industry executive whose leadership has made a significant impact on his or her industry peers.
Favorite Bachelder quote: “I must know you to grow you.”
Unfortunately, Popeyes Louisiana Kitchen earlier this month announced the end of an incredible CEO tenure and success story. Bachelder will step down as the fried chicken chain is sold to Restaurant Brands International, the owner of Burger King and Tim Hortons, for $1.8 billion.
Who would you add to this list? Comment below or follow the conversation on Twitter using #ServantLeadership and “My Choice for CEO.”