Yum Brands CEO Greg Creed announces retirement
COO David Gibbs, tapped as new leader, will focus on elevating Yum technologies
Nancy Luna, Nation's Restaurant News
Aug 12, 2019
Yum Brands CEO Greg Creed has announced plans to retire at the end of the year, the Louisville, Ky.-based company announced Monday afternoon.
David Gibbs, the company's current president and chief operating officer, has been tapped to replace Creed who informed the board of his retirement plans last week. Creed, former CEO of Yum division Taco Bell, has served as Yum CEO since January 2015.
Gibbs, who was promoted to the role of COO earlier this year, will assume the role of CEO on Jan. 1, 2020; he will take a seat on the board, effective Nov. 1.
“David is the right leader. There is no better person that can take this brand forward,” Creed said Monday in a phone interview with Nation’s Restaurant News.
Creed, who made the decision to retire after turning 62 earlier this year, will remain CEO through the end of 2019. He will also serve as a part-time Yum advisor next year and remain on the board.
During his tenure at Yum, Creed successfully executed the 2016 spinoff of Yum China and led...