LOUISVILLE, Ky. — Yum Brands has announced that its chairman and CEO, David C. Novak will assume the role of executive chairman Jan. 1; Greg Creed will take over as CEO.
“Greg Creed is the ideal leader to become our next CEO. First and foremost, he walks the talk of our culture and is determined to take it to the next level. Next, he is a visionary business leader with a proven track record of results,” Novak said. “As executive chairman, I will lead the Board of Directors and focus on mentoring Greg as our new CEO.”
Creed will continue in his role as CEO of Taco Bell before taking over leadership of the brand Jan. 1. Novak will form the office of the chairman, which will include Sam Su, Yum Brands vice-chairman and chairman/CEO, China Division as well as Greg Creed.
Yum Brands — which includes KFC, Pizza Hut and Taco Bell — has more than 40,000 restaurants worldwide.
