KFC parent Yum Brands' finance chief Chris Turner to take over as CEO
Yum Brands
said on Tuesday its finance chief Chris Turner will take over as its CEO from October 1, succeeding company veteran David Gibbs.
The company had said in March Gibbs would retire in 2026 after about 37 years at the KFC and Taco Bell parent, during which he assumed several roles and became its top boss in 2020.
Gibbs will remain at Yum Brands in an advisory capacity until the end of next year, the company said on Tuesday.
Turner, who has been the company's CFO since 2019, has previously worked with packaged food giant PepsiCo and consulting firm McKinsey & Co.
The duo helped digitize operations at the company, which included the launch of its artificial intelligence-driven restaurant technology platform to help with online orders, kitchen optimization, inventory and menu management.
The restaurant operator said its digital channels grew to account for more than 50% of total sales during Gibbs' time as CEO.
Yum's stock is up about 5% so far this year, and has risen 40.9% under Gibbs' tenure.
The company's Taco Bell banner has bucked broader weakness in the restaurant industry for the past several quarters, helped by its value meals and the appeal of its Tex-Mex cuisine.
Louisville, Kentucky-headquartered Yum Brands has about 61,000 restaurants globally, including Pizza Hut, Taco Bell, KFC and Habit Burger & Grill.
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