Micky Pant Named Chief Executive Officer of Yum Brands China Division; Succeeds Sam Su, Who Will Retire from Company & Remain...
August 18 2015 - 4:30PM
Business Wire
Joey Wat Named CEO of KFC China; Peter Kao Named CEO of Pizza
Hut China
Yum! Brands, Inc. (NYSE: YUM) today announced that long–time YUM
veteran, Micky Pant, 60, has been appointed Chief Executive Officer
of Yum! Restaurants China, succeeding Sam Su, 63, who announced his
plans to retire as Chairman and CEO of the China Division. Su will
serve as an Executive Advisor through February 2016 and also remain
on the Yum! Brands, Inc. Board of Directors to ensure a smooth and
seamless transition. The Company also announced that Joey Wat, 44,
President of KFC China, and Peter Kao, 58, Senior Vice President
and Brand General Manager of Pizza Hut China, have each been
promoted to the position of Chief Executive Officer of KFC and
Pizza Hut, respectively, reporting to Pant.
Greg Creed, Chief Executive Officer, Yum! Brands, Inc. said:
“Sam Su is a restaurant industry pioneer in China, having
established KFC and Pizza Hut as global powerhouses in the world’s
fastest growing economy. While we respect and support his decision
to retire after a long and successful career with YUM, we are
grateful he has built a strong leadership team to carry on and
leverage the unprecedented growth opportunity that China presents.
I’m especially pleased this leadership transition comes at a time
that same-store sales have turned significantly positive,
demonstrating continued recovery in the business. We thank Sam
for his many significant contributions to YUM, and for ensuring a
seamless transition of management to Micky Pant, who I am
extraordinarily pleased will become Chief Executive Officer of Yum!
Restaurants China. Micky has been one of our most effective and
visionary leaders at YUM for the past decade. He is one of the
finest brand builders in the business with an unparalleled ability
to understand consumer insights and to pursue strategies
that build trust and loyalty. At the same time, he
is a culture champion and world-class business executive, who knows
how to run and grow profitable businesses and attract
world-class talent. His strong leadership skills are evident in the
tremendous success he has delivered at Yum! Restaurants
International (YRI) as President of KFC and Pizza Hut, and then as
CEO of KFC globally. Micky is the perfect person to next lead the
China Division, given his vast knowledge of KFC and Pizza Hut best
practices from around the globe. He will be supported by two
tremendous leaders, Joey Wat, President of KFC and Peter Kao, SVP
and Brand GM of Pizza Hut, who are promoted to Chief Executive
Officer of their respective brands, reporting to Micky. Angela Loh,
who has served as Chief Concept Officer, and Mark Chu, who has
served as President, Chief Operating Officer, will serve as Senior
Advisors to Micky, continuing to share their extensive years of
expertise. We believe this seasoned executive team is
well-positioned to ensure a seamless management transition and
continue our growth trajectory in China for many years to come.
“As Micky becomes the CEO of the China business, I’m pleased
that Roger Eaton, 55, will become Chief Executive Officer of the
KFC Division outside of China and India, reporting to me.
As the YUM Chief Operations Officer, Roger strengthened
our operations capability, food quality and safety, and
sustainability. He is a restaurant industry veteran who definitely
has KFC shortening in his veins, having held many senior
management roles with the brand in the U.S. and internationally.
Roger is a tremendous leader and I’m confident he and his team
will take the KFC brand to new heights globally, building on
Micky’s success.”
Yum! Brands, Inc., based in Louisville, Kentucky, has over
41,000 restaurants in more than 125 countries and territories. Yum!
is ranked #228 on the Fortune 500 List with revenues of over $13
billion in 2014 and is one of the Aon Hewitt Top Companies for
Leaders in North America. The Company's restaurant brands - KFC,
Pizza Hut and Taco Bell - are the global leaders of the chicken,
pizza and Mexican-style food categories. Outside the United States,
the Yum! Brands system opens over five new restaurants per day on
average, making it a leader in international retail
development.
This announcement may contain “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. We intend all
forward-looking statements to be covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by the fact that they
do not relate strictly to historical or current facts. Our
forward-looking statements are subject to risks and uncertainties,
which may cause actual results to differ materially from those
projected. You should consult our filings with the Securities and
Exchange Commission (including the information set forth under the
captions “Risk Factors” and “Forward-Looking Statements” in our
Annual Report on Form 10-K) for additional detail about factors
that could affect our financial and other results. Forward-looking
statements are based on current expectations and assumptions and
currently available data and are neither predictions nor guarantees
of future events or performance. You should not place undue
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date hereof. We are not undertaking to update any of these
statements.
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Yum! Brands, Inc.Virginia Ferguson, 502-874-8200
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