Yum Brands Appoints David Gibbs As CEO

(RTTNews) - Yum Brands Inc. (YUM) Monday named David Gibbs as its new CEO, effective January 1.

Gibbs, 55, who currently serves as the company's president and chief operating officer, oversees the global KFC, Pizza Hut, and Taco Bell divisions. Gibbs will succeed Greg Creed who is retiring. Gibbs has been appointed to Yum's board of directors, effective November 1.

Creed has served as Yum! Brands CEO since January 2015. As CEO, Creed successfully executed the 2016 spinoff of Yum China.

"I've had the privilege of partnering with our franchisees to grow the three iconic brands within the Yum! Brands portfolio for over 30 years and am honored to follow in Greg's footsteps," Gibbs said. "It's thanks to Greg's terrific leadership and innovative brand building during some of the most pivotal moments in our history that Yum! Brands has emerged as a vibrant and industry-leading growth company."

Since joining in 1989, Gibbs has held a variety of leadership roles in all three of YUM's brands including global strategy, finance, general management, operations and real estate.

"David is an outstanding commercial leader with a passion for Yum! Brands' global business, brands and people. He has been an invaluable strategic partner to me during our transformation and instrumental in shaping our global strategy, accelerating the pace of global new unit development, executing our transformation goals and laying a strong foundation for future growth," Creed said about Gibbs.