Yum! Brands Names Keith Siegner Vice President, Investor Relations and Corporate Strategy
June 14 2016 - 9:01AM
Business Wire
Leading Restaurant Analyst Joins YUM After
Two Decades on Wall Street
Yum! Brands, Inc. (NYSE: YUM) today announced that Keith
Siegner, 41, will join the Company as Vice President, Investor
Relations and Corporate Strategy, reporting to President and Chief
Financial Officer, David Gibbs, effective July 11, 2016. In this
role, Siegner will assume responsibility for the Company’s
relationships with the analyst and investor community. He will also
play a key role in shaping YUM’s long-term growth strategies as the
Company moves toward the separation of its China business by the
end of October.
“Keith is an excellent addition to Yum! Brands. He brings to
this important position nearly 20 years of financial expertise and
a deep understanding of the restaurant industry and our Company,”
said Gibbs. “Keith’s insight into franchisee economics and
benchmarking to uncover areas for improvement, coupled with his
knowledge of Wall Street, will enable him to make a meaningful
impact on our business and our interactions with the investment
community. This is an exciting time at YUM as we separate into two
powerful, independent companies – Yum! Brands and Yum! China – with
unique investment profiles, capital structures, and compelling
growth potential. We are thrilled to have someone with Keith’s
experience and knowledge join our Company,” Gibbs added.
Siegner joins YUM from UBS Securities, LLC, where he served as
an Executive Director in securities research, analyzing and
publishing investment advice for restaurant companies with a
combined market capitalization of $300 billion, including YUM. He
previously spent over 12 years at Credit Suisse Securities USA,
LLC, on teams covering the environmental services and specialty
chemicals sectors before assuming lead coverage of the restaurant
sector in 2007. Earlier in his career, Siegner worked in the
international tax consulting services practice of Arthur Andersen
LLP. He received both bachelor’s and master’s accounting degrees
from Wake Forest University.
“I am thrilled to be joining the world-class YUM team as the
Company moves toward its next chapter. Greg Creed, David Gibbs and
the team have a clear vision to transform YUM for the future by
capitalizing on the extraordinary strength and growth potential of
the KFC, Pizza Hut and Taco Bell brands. After many years following
YUM, I cannot wait to play a role in driving its long-term growth
and success,” said Siegner.
Yum! Brands, Inc., based in Louisville, Kentucky, has nearly
43,000 restaurants in almost 140 countries and territories. Yum! is
ranked #218 on the Fortune 500 List with revenues of over $13
billion in 2015 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. Worldwide, the Yum! Brands
system opens over six new restaurants per day on average, making it
a leader in global 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 generally can be identified by the fact
that they do not relate strictly to historical or current facts and
by the use of forward-looking words such as “expect,”
“expectation,” “believe,” “anticipate,” “may,” “could,” “intend,”
“belief,” “plan,” “estimate,” “target,” “predict,” “likely,”
“will,” “should,” “forecast,” “outlook” or similar terminology.
These statements are based on current estimates and assumptions
made by us in light of our experience and perception of historical
trends, current conditions and expected future developments, as
well as other factors that we believe are appropriate and
reasonable under the circumstances, but there can be no assurance
that such estimates and assumptions will prove to be correct.
Forward-looking statements reflect our current expectations,
estimates or projections concerning future results or events,
including, without limitation, statements regarding the intended
capital return to shareholders as well as the related borrowing
required to fund such capital return, the planned separation of the
Yum! Brands and Yum! China businesses, the timing of any such
separation, the future earnings and performance as well as capital
structure of Yum! Brands, Inc. or any of its businesses, including
the Yum! Brands and Yum! China businesses on a standalone basis if
the separation is completed. Forward-looking statements are not
guarantees of performance and are inherently subject to known and
unknown risks, uncertainties and assumptions that are difficult to
predict and could cause our actual results to differ materially
from those indicated by those statements. We cannot assure you that
any of our expectations, estimates or projections will be achieved.
The forward-looking statements included in this announcement are
only made as of the date of this announcement and we disclaim any
obligation to publicly update any forward-looking statement to
reflect subsequent events or circumstances. Numerous factors could
cause our actual results and events to differ materially from those
expressed or implied by forward-looking statements, including,
without limitation: whether we are able to return capital to
shareholders at the times and in the amounts currently anticipated,
if at all, as well as the corresponding costs of borrowing to fund
such capital return as well as other costs; whether the separation
of the Yum! Brands and Yum! China businesses is completed, as
expected or at all, and the timing of any such separation; whether
the operational and strategic benefits of the separation can be
achieved; whether the costs and expenses of the separation can be
controlled within expectations, including potential tax costs; as
well as other risks. In addition, other risks and uncertainties not
presently known to us or that we currently believe to be immaterial
could affect the accuracy of any such forward-looking statements.
All forward-looking statements should be evaluated with the
understanding of their inherent uncertainty. 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 or Form 10-K) for
additional detail about factors that could affect our financial and
other results.
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version on businesswire.com: http://www.businesswire.com/news/home/20160614005808/en/
Yum! Brands, Inc.Analysts are invited to contact:Donny Lau,
888-298-6986Senior Director, Investor Relations & Corporate
StrategyorElizabeth Grenfell, 888-298-6986Director, Investor
RelationsorMembers of the media are invited to contact:Virginia
Ferguson, 502-874-8200Director, Public Relations
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