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Yum Brands Promotes Financial Chief Carucci To President

DOW JONES NEWSWIRES Yum Brands Inc. (YUM) has promoted Rick Carucci to the role of president, taking over the position from David C. Novak, who will remain chief executive. Carucci, 54 years old, has been the company's chief financial officer since 2005. In his new position, he will oversee the leaders of the company's Taco Bell, KFC and Pizza Hut units in the U.S., Yum Restaurants International and the corporate finance division. The CEOs of the China and India operations report to Novak. Novak called Carucci, along with Sam Su--who is chairman and chief executive of Yum China--instrumental partners to running the business. Both Su and Novak, who has served as chief executive of the company since 2000, have committed to the board that they will be actively involved in the leadership of the company in the coming years. "With Rick Carucci's promotion, we have created a management triumvirate to best leverage scale and capitalize on our aggressive growth opportunities in emerging markets including China, India, Russia, Africa, France and Germany," said Novak, who was 59 as of a recent regulatory filing. Before becoming chief financial officer, Carucci was the financial chief and head of development in the international division. Carucci has held previously general management responsibility for the company's businesses in various countries in South America, Asia, the Middle East and North Africa. Patrick Grismer, 50, was named to replace Carucci as chief financial officer. He was previously the company's chief planning and control officer. Yum recently said its first-quarter earnings rose 73%, though economic challenges in China--the biggest contributor to the company's earnings--post a threat to the profitability potential there. Shares were recently up 1.4% to $73.73. The stock is up 25% so far this year. -By Kristin Jones; Dow Jones Newswires; 212-416-2208; kristin.jones@dowjones.com

Stock News for Yum (YUM)
DateTimeHeadline
04/23/201417:02:14MARKET SNAPSHOT: U.S. Stocks Tumble; S&P 500 Ends 6-day Run
04/23/201415:47:47MARKET SNAPSHOT: U.S. Stocks Drift Lower
04/23/201410:40:12MARKET SNAPSHOT: U.S. Stocks Fall; PMI, Home Sales Disappoint
04/23/201410:15:39MARKET SNAPSHOT: U.S. Stocks Fall; PMI Slips In April
04/23/201409:34:30U.S. Hot Stocks: Hot Stocks to Watch
04/22/201419:18:45Correction to Yum Earnings Story
04/22/201418:59:34Yum's Profit Improves as China Sales Recover -- Update
04/22/201418:30:10Yum's Profit Improves as China Sales Recover
04/22/201414:38:17MARKET SNAPSHOT: U.S. Stocks Rise; Netflix Jumps On Results
04/22/201414:29:14McDonald's Plans Marketing Push as Profit Slides -- 3rd Update
04/20/201406:17:33MARKET SNAPSHOT: Long View On Stocks Is Best During Weak Earnings...
03/28/201412:35:00Yum Brands Unveils New Segment Reporting Structure -- Update
03/28/201412:30:44Yum Brands Combines Existing Divisions Into Global Brand Segments
03/27/201405:20:46Yum Bids to Regain Consumer Confidence in China With New Menu
03/21/201419:38:47Yum CEO's Total Pay Drops 29% to $10 Million in 2013
03/06/201416:43:39MARKET SNAPSHOT: U.S. Stocks Rise: S&P 500 At Record
03/06/201413:29:00MARKET SNAPSHOT: U.S. Stocks: S&P 500 Eyes Record Close
03/06/201411:00:04MARKET SNAPSHOT: U.S. Stocks Rise; S&P 500 Hits Intraday High
02/04/201417:25:41MARKET SNAPSHOT: U.S. Stocks Rise; Michael Kors, Yum Brands Climb
02/04/201414:34:11MARKET SNAPSHOT: Michael Kors, Yum Brands Jump On Earnings

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