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Yum! Brands Realigns Business Divisions to Propel Global Growth

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Yum! Brands is reorganising its business to drive greater brand and geographic focus. Effective January 1, 2014, it will combine its Yum! Restaurants International (YRI) and the US individual divisions for , Pizza Hut and . According to the company officials, Yum! Restaurants China and Yum! Restaurants India will remain separate divisions given their importance and growth potential.

The KFC, Pizza Hut, and Taco Bell divisions will define and drive the strategic positioning and operating models for the brands, working closely with the China and India division teams. “We believe that having 100 percent focussed brand teams will enable us to more aggressively accelerate growth. Know-how sharing will be more powerful by bringing the US and international businesses together,” said David C. Novak, Chairman and Chief Executive Officer, Yum! Brands. “This is a natural evolution from where we are today. Over the last few years, we have been separating our YRI field business units by brand. The next logical step was to organise our division leadership and resources by brand, as we are now doing,” he added.

The new leadership structure, reporting to Novak includes: Sam Su, Yum! Brands Vice Chairman and Chairman and CEO of Yum! Restaurants China; Micky Pant, CEO of KFC; Scott Bergren, CEO of Pizza Hut; Greg Creed, CEO of Taco Bell; and , President of Yum! Restaurants India. Also reporting to Novak will be the YUM corporate functional leaders of finance, operations, human resources, public affairs and legal.

Rick Carucci has also announced his plans to retire as Yum! Brands President in March 2014. “Rick Carucci has been an incredible partner to me, and the company will be forever grateful for his many contributions over a long career with YUM. As we move forward, I couldn’t be more confident that the best is yet to come—for our customers, our associates and our franchisees—as we leverage our brand portfolio to grow our business around the world.”

Commensurate with the new organisational structure beginning in fiscal year 2014, Yum! Brands will be providing financial reporting by global division: KFC, Pizza Hut and Taco Bell, as well as for Yum! Restaurants China and Yum! Restaurants India.

Based in Louisville, , Yum! Brands has over 40,000 restaurants in more than 130 countries and territories. Outside the United States, the company opened on average over five new restaurants per day in 2012.