Jan, 08 2016

​Yum Chairman to retire in May

Yum! Brands, Inc. has announced that David C Novak, 63, Executive Chairman, plans to retire in May 2016 following the Company’s annual shareholder meeting and step down from the Company’s Board at that time.

By Franchise India Bureau
​Yum Chairman to retire in May

The Board plans to appoint a Non-Executive Chairman from among its Directors to succeed Novak and will announce that appointment at the Company's annual shareholder meeting. He was appointed Chief Executive Officer of Yum! in 1999 and has served as Chairman of Yum! Brands since 2000. He transitioned to Executive Chairman on January 1, 2015, when he was succeeded as CEO by Greg Creed.

“I feel deeply privileged to have served over the years as Yum! Brands Chairman and CEO,” said Novak.

He further says, “As we target the separation of our China business by the end of 2016 and transition to two powerful, independent companies, it is a perfect time for me to complete my retirement. The two new companies will be led by strong, highly capable leaders, Greg Creed at YUM and Micky Pant at YUM China. I am completely confident both of them will take their businesses to the next level and I look forward to cheering them on and supporting them after my retirement. I truly believe these two companies present enormous growth potential in the years to come. Therefore, I plan to remain a shareholder of both companies and couldn't be more enthusiastic about these investments.”

Related: Johnny Rockets appoints Harry Yu for IT

Click Here to add Comment
Please add your Comment
Rating
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Sell Franchise 2017
Daily Newsletter

Submit your email address to receive the latest updates on news & host of opportunities.

Most
Entrepreneur The Franchising World Retailer 2017




Recommended For You
Newsletter Signup
Submit your email address to receive the latest updates on news & host of opportunities.
Franchise India Holdings Ltd

Copyright © 2009 - 2017 Franchise India Holdings Ltd.

The information contained herein is of generic nature only, and Franchise India is not, by means of this website or any part thereof, rendering professional advice or services. Before making any decision or taking any action that might affect your finances or business, you should consult a qualified professional advisor. Your use of this website or any of its pages or links given, is at your own risk and you assume full responsibility and risk of loss resulting from your usage. With respect to use of the website, kindly visit www.franchiseindia.com/terms.

X

Tell us what you think!