Louisville, Ky. — The chief executive officer of Yum! Brands, Inc., David Gibbs, has informed the board of directors of his intention to retire from the company in the next year. He has been with Yum! for 36 years and its CEO since January 2020.
The board has established a succession planning committee and will work deliberately to identify and appoint the best candidate to lead the company’s next chapter. Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026.
Since becoming CEO in January 2020, Gibbs has focused on leading the company’s digital transformation, building its development engine and delivering strong shareholder returns powered by a people-first culture of collaboration. Gibbs also successfully navigated the company through the COVID-19 pandemic and an increasingly complex operating environment, making the company a top performer in the restaurant industry. During Gibbs’ tenure, digital sales surpassed $30 billion in 2024 with over 50% of sales through digital channels and the pace of annual net new unit development tripled, leading to more than 61,000 restaurant units worldwide.
“Along with the entire board of directors, I commend David for his dedication to Yum! Brands and applaud his transformative impact on the company — not just in his time as CEO, but throughout the entirety of his nearly four-decade career with Yum! Brands,” says Brian Cornell, non-executive chairman of the Yum! Brands board of directors and chairman and CEO of Target Corporation. “The board is committed to overseeing a thorough succession planning process and appreciates David’s continued leadership of the business as well as the ample timeline provided to ensure a seamless leadership transition.”
Yum! Brands, Inc., based in Louisville, Ky., and its subsidiaries franchise or operate a system of over 61,000 restaurants in more than 155 countries and territories under the company’s concepts: KFC, Taco Bell, Pizza Hut and Habit Burger & Grill.
SOURCE: Yum! Brands, Inc.