WASHINGTON (dpa-AFX) - Yum! Brands Inc. (YUM), the fast food giant that has decided to spin off its struggling China division, Monday said its Chief Financial Officer Patrick Grismer will resign, effective February 19.
The company will conduct a search of internal and external candidates to identify a successor.
Grismer will continue to serve as CFO till Yum!'s Form 10-K filing with the Securities and Exchange Commission. He will also present at the Company's upcoming investor conference in Plano, Texas, on December 10, 2015, the company said.
Grismer has served as CFO of Yum! since 2012. Prior to that, he served in a number of senior finance and planning positions within the company.
Grismer's announcement of departure comes at a time when Yum Brand's is trying to stage a comeback in China with its now not-so-popular brands KFC and Pizza Hut.
In October, Yum! had announced its plans to spin off its struggling China division into an independent company as it will help the division to focus better in mainland China.
YUM closed Monday's trading at $76.41, up $0.27 or 0.35%, on the NYSE.
Copyright RTT News/dpa-AFX
© 2015 AFX News
