Instrumental in refranchising, David Gibbs gets expanded role
Yum Brands has promoted David Gibbs to president and chief operating officer. Gibbs will now be responsible for the operational leadership and oversight of the Global KFC Division, and head up the U.S. and international Pizza Hut and Taco Bell businesses. Gibbs has been serving as Yum president and chief financial officer for the past two years, and is now tapped with an expanded role. “As we enter the last year of our three-year transformation, the Yum! Brands Board of Directors and I are confident David’s expanded leadership will continue to shape the next wave of growth as we strive to build the world’s most loved, trusted and fastest-growing restaurant brands,” said Greg Creed, Yum CEO, in a statement.
Gibbs is a veteran of the Yum global brands system and joined the company in 1989. He has touched many facets of the business, including global strategy, finance, general management, operations and real estate. Tapped to be the chief architect of refranchising and restaurant development strategy, he has helped Yum become an asset-light franchisor.
Gibbs was CEO of the Global Pizza Hut Division, and President and CFO of Yum! Restaurants International, charged with growing KFC, Pizza Hut and Taco Bell outside the U.S. and in China, among several high-profile executive positions.
“The transformation we started in 2016 is already making Yum! Brands a stronger company, franchisor and investment,” said Gibbs. “We’ve achieved our stated goal of 98 percent of our restaurants being owned and operated by franchisees by the end of 2018, and are on track to deliver on our commitments for the transformation.”
Louisville, Ky.-based Yum Brands announced the 29-year veteran will retain his chief financial officer title and continue to lead corporate strategy, finance, supply chain and information technology, while the company searches for and hires a new CFO. Gibbs, Chief Marketing Strategy Officer Ken Muench, Chief Transformation and People Officer Tracy Skeans, and General Counsel and Corporate Secretary Scott Catlett will continue to report to Creed.
Photo credit: Yum Brands