WASHINGTON (dpa-AFX) - Yum! Brands, Inc. (YUM), which owns KFC, Taco Bell and Pizza Hut brands, announced Monday that David Gibbs, Chief Executive Officer, has informed the Board of Directors of his intention to retire from the company in the next year.
Under its leadership transition plans, the Board has established a succession planning committee to identify and appoint a new CEO.
Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026.
Gibbs, who has been with Yum! Brands for the past 36 years, has served as its CEO since January 2020, and successfully navigated the Company through the COVID-19 pandemic and an increasingly complex operating environment.
During his tenure, digital sales surpassed $30 billion in 2024 with over 50% of sales through digital channels. Further, the pace of annual net new unit development tripled, leading to more than 61,000 restaurant units worldwide, the company noted.
In pre-market activity on the NYSE, Yum! shares were trading at $154.70, down 0.68%.
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