YUM announced this morning that Chairman and CEO David Novak will become Executive Chairman on Jan. 1, 2015, transitioning from his current role. At this time, Greg Creed, Preisdent of Taco Bell, will become the next CEO of Yum! Brands.
Novak will then form the Office of the Chairman, which will include Sam Su (YUM Vice-Chairman and Chairman/CEO of the China Division) and Greg Creed. According to the press release, "This new Office of the Chairman will partner as a triumvirate on overall corporate strategy and leadership development to propel continued growth."
We will be hosting a conference call with Yum! Brands CFO Pat Grismer next week on Tuesday, May 6th at 11am EST.
Broadly speaking, we plan to hit on three key topics, including:
1. Succession planning
- Pending CEO Greg Creed
- Office of the Chairman
2. Taco Bell breakfast
- How is it progressing?
- What is the go-forward game plan?
- What are the important benchmarks?
3. China Division
- How is it progressing?
- What is the go-forward game plan?
- What are the important benchmarks?
Call Details
Toll Free Number:
Direct Dial Number:
Conference Code: 551668#
Howard Penney
Managing Director
Fred Masotta
Analyst