Franchise News
Yum! Brands is Getting a New! CEO
Come 2020, the parent company of franchise powerhouses KFC, Taco Bell and Pizza Hut will have a new leader at the helm.
From the “Tortillapocalypse” to the impending closure of 500-plus Pizza Huts, it’s been a tumultuous few weeks for franchise parent company Yum! Brands.
Here at 1851 Franchise, we love a good executive shakeup, as evidenced by this article from late July announcing new CEOs at both Taco Bell and Pizza Hut. It appears the leadership changes at Yum! weren’t done then, as it was announced on Monday that CEO and 25-year company veteran Greg Creed would be retiring at the end of the year. Come January 1, 2020, David Gibbs will move into the role, exchanging just a single letter in his current title of COO.
Restaurant Business noted that Gibbs has been with Yum! for more than 30 years and has served in a variety of roles including global strategy, finance, general management, operations and real estate.
Despite the company’s recurring presence in the news cycle of late, business is good, as CNBC points out Yum! Brands saw a 5% increase in same-store sales in Q2 and company shares are up more than 25% in 2019.
“I am excited to accept this new role as we conclude the third and final year of our company’s strategic transformation,” Gibbs said in a statement. “Because of our journey to become more focused, franchised and efficient, we’re now in the best position we’ve ever been in to accelerate growth and improve franchise unit economics, but we still have more to achieve."
Read the full announcement here. Photo courtesy of Yum! Brands on Twitter.
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About the Author
Madeline Lena
FollowMaddie has spent her career in the media industry, serving in various editorial roles before migrating into a hybrid content strategy and PR role with No Limit Agency. Her passion for storytelling and love of writing help her create meaningful content on behalf of her clients and fulfill No Limit Agency’s mission to tell people-driven stories.
Maddie is a graduate of Saint Louis University, where she studied Communications with a focus in journalism and media studies as well as Sports Business. In her spare time, Maddie can be found exploring Chicago’s food scene, watching an NBA game or lamenting over her middling fantasy baseball team.
