Su retains position as Vice-Chairman, Yum! Brands Board of Directors
LOUISVILLE, Ky.--(BUSINESS WIRE)--
Yum! Brands, Inc. (NYSE: YUM) today announced that Sam Su, 58, has been
promoted to Chairman and Chief Executive Officer for Yum! Brands China
Division and maintains his position as Vice Chairman, Yum! Brands, Board
of Directors. Su was previously President of Yum! China Division.
“Sam Su is a world class pioneer achieving breakthrough results for Yum!
Brands in China and is absolutely committed to driving long-term
success. He has a solid track record of delivering outstanding
performance in our China division, which has grown operating profit from
$20 million in 1998 to $600 million in 2009. Sam and his team have
created sustainable competitive advantages for us through a strategic
focus on growth and innovation. That is why Yum! China leads the way
across the board, with best-in-class talent, operations, products and
assets and is poised for a tremendous and successful future ahead in the
world’s largest growing economy. Sam is an outstanding partner and I am
very pleased he has been promoted to Chairman and Chief Executive
Officer of Yum! China Division in recognition of his leadership,” said
David C. Novak, Yum! Brands Chairman and Chief Executive Officer.
“I am also pleased to announce that Mark Chu is being promoted from
Chief Development Officer to President and Chief Operating Officer of
Yum! China, reporting to Sam Su. Mark has been instrumental in growing
our restaurant base in China to nearly 3,500 restaurants, last year
adding a record 509 new units in Mainland China. His continued focus on
growth, coupled with our tremendous store level operating capability, a
world class infrastructure and the largest real estate and construction
teams anywhere in the world, has given Yum! a huge competitive
advantage, which he and Sam will only continue to build upon,” added
Novak.
Chu will have oversight of all the Brand teams for the China Division as
well as the Restaurant Excellence and Franchise Development functions,
while maintaining his oversight of the Development and Construction
teams.
Yum! China Division operates across more than 650 cities in mainland
China, with 3,544 restaurants including 2,950 KFC restaurants, 467 Pizza
Hut casual dining restaurants and 102 Pizza Hut Home Service units. It
also has created and is testing East Dawning, a quick service restaurant
concept serving Chinese food. The Company also has purchased interest in
Little Sheep, leader in the ‘hot pot’ restaurant category primarily in
China. In 2009, the Company opened a record 509 new units, nearly one
KFC every day. The Company outpaces its nearest competitor, McDonald’s,
by more than 1,000 restaurants in China and is outpacing their
development by a roughly 3:1 pace. Recent studies indicate the middle
class in mainland China is over 300 million people, creating significant
long-term demand for the Company’s brands and rapid new unit
development. Each of Yum’s brands has great momentum in China as the
Company continues its goal of at least 20,000 units over the long term
in mainland China.
Yum! Brands, Inc., based in Louisville, Ky., is the world’s largest
restaurant company in terms of system restaurants with more than 37,000
restaurants in more than 110 countries and territories. The company is
ranked #216 on the Fortune 500 List, with revenues of nearly $11 billion
in 2009. Four of the company’s restaurant brands – KFC, Pizza Hut, Long
John Silver’s and Taco Bell – are the global leaders of the chicken,
quick–service seafood, pizza and Mexican–style food categories. A&W
Restaurants is the longest running quick–service franchise chain in
America. Outside the United States, the Yum! Brands system opened more
than four new restaurants each day of the year, making it a leader in
international retail development. The Company has consistently been
recognized for its reward and recognition culture, diversity leadership,
community giving, and consistent shareholder returns. In 2007, the
Company launched World Hunger Relief, the world’s largest private sector
hunger relief effort to raise awareness, volunteerism and funds to
benefit the United Nations World Food Programme (WFP) and other hunger
relief agencies. To date, this effort has raised nearly $60 million for
WFP and other hunger relief agencies and is helping to provide
approximately 250 million meals, saving the lives of millions of people
in remote corners of the world where hunger is most prevalent.
Source: Yum! Brands, Inc.
Contact:
Yum! Brands Inc.
Media:
Amy Sherwood, Vice President Public
Relations, 502-874-8200
or
Analysts:
Tim Jerzyk, Senior
Vice President Investor Relations, 888-298-6986
or
Bruce
Bishop, Director Investor Relations, 888-298-6986