Yum! Brands Announces Leadership Transition Plans; David Gibbs to Retire in 2026

LOUISVILLE, Ky.--(BUSINESS WIRE)--Mar 31, 2025--

Yum! Brands, Inc. (NYSE: YUM) today announced that David Gibbs, Chief Executive Officer, has informed the Board of Directors of his intention to retire from the Company in the next year.

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The Board has established a succession planning committee and will work deliberately to identify and appoint the best candidate to lead the company’s next chapter. Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026.

“During my time as CEO and throughout my 36 years with Yum! Brands, it has been an honor to work alongside this incredibly talented team and our dedicated franchisees to build the most loved, trusted, and connected restaurant brands around the world,” said Gibbs. “I set out to strengthen and broaden the appeal of our iconic brands, build industry-leading digital capabilities, dramatically accelerate the pace of profitable new unit development, and amplify our people-first culture. I am pleased with the progress we have made on all fronts and know that Yum! Brands is now stronger and more resilient than ever. I look forward to supporting the next CEO candidate and ensuring the company is set up for continued success. In the meantime, my focus remains on executing our strategy and delivering against our growth commitments.”

Gibbs has served as Yum! Brands’ CEO since January 2020. As CEO, Gibbs focused on leading the company’s digital transformation, building the Company’s development engine and delivering strong shareholder returns powered by a people-first culture of collaboration. Simultaneously, Gibbs also successfully navigated the Company through the COVID-19 pandemic and an increasingly complex operating environment, making the Company a top performer in the restaurant industry. During Gibbs’ tenure, digital sales surpassed $30 billion in 2024 with over 50% of sales through digital channels and the pace of annual net new unit development tripled, leading to more than 61,000 restaurant units worldwide.

“Along with the entire Board of Directors, I commend David for his dedication to Yum! Brands and applaud his transformative impact on the company – not just in his time as CEO, but throughout the entirety of his nearly four-decade career with Yum! Brands,” said Brian Cornell, Non-Executive Chairman of the Yum! Brands Board of Directors and Chairman and CEO of Target Corporation. “The Board is committed to overseeing a thorough succession planning process and appreciates David’s continued leadership of the business as well as the ample timeline provided to ensure a seamless leadership transition.”

About Yum! Brands

Yum! Brands, Inc., based in Louisville, Kentucky, and its subsidiaries franchise or operate a system of over 61,000 restaurants in more than 155 countries and territories under the company’s concepts – KFC, Taco Bell, Pizza Hut and Habit Burger & Grill. The Company's KFC, Taco Bell and Pizza Hut brands are global leaders of the chicken, Mexican-inspired food, and pizza categories, respectively. Habit Burger & Grill is a fast casual restaurant concept specializing in made-to-order chargrilled burgers, sandwiches and more. In 2024, Yum! was named to the Dow Jones Sustainability Index North America, Newsweek’s list of America’s Most Responsible Companies, USA Today’s America’s Climate Leaders and 3BL’s list of 100 Best Corporate Citizens. In 2025, the Company was recognized among TIME magazine’s list of Best Companies for Future Leaders. In addition, KFC, Taco Bell and Pizza Hut led Entrepreneur's Top Global Franchises 2024 list and were ranked in the first 25 of Entrepreneur’s 2025 Franchise 500, with Taco Bell securing the No. 1 spot in North America for the fifth consecutive year.

Yum! Brands, Inc. (NYSE: YUM) today announced that David Gibbs, Chief Executive Officer, has informed the Board of Directors of his intention to retire from the Company in the next year. The Board has established a succession planning committee and will work deliberately to identify and appoint the best candidate to lead the company’s next chapter. Gibbs will continue leading the company throughout the search process until his retirement, expected in the first quarter of 2026.

A Ukrainian drone strike killed one person and wounded three others in the Russian city of Voronezh, local officials said Sunday. Meanwhile, thousands of residents were still without power in Kyiv, following an intense Russian bombardment.

A young woman died overnight in a hospital intensive care unit after debris from a drone fell on a house during the attack on Saturday, Voronezh regional Gov. Alexander Gusev said on Telegram.

Three other people were wounded and more than 10 apartment buildings, private houses and a high school were damaged, he said, adding that air defenses shot down 17 drones over Voronezh. The city is home to just over 1 million people and lies some 250 kilometers (155 miles) from the Ukrainian border.

Ukraine's General Staff said Sunday said its forces hit three drilling platforms operated by Russian oil giant Lukoil in the waters of the Caspian Sea. Ukraine’s long-range drone strikes on Russian energy sites aim to deprive Moscow of the oil export revenue it needs to pursue its full-scale invasion.

The attacks came after Russia bombarded Ukraine with hundreds of drones and dozens of missiles overnight into Friday, killing at least four people in the capital Kyiv, according to Ukrainian officials. For only the second time in the nearly four-year war, Russia used a powerful new hypersonic missile that struck western Ukraine in a clear warning to Kyiv and NATO.

Ukraine’s largest private energy supplier, DTEK, said Sunday that 30,000 people in Kyiv were still without power following the attack. Mayor Vitali Klitschko said Friday around half the apartment buildings — nearly 6,000 — in snowy Kyiv were left without heat in daytime temperatures of about minus 8 degrees Celsius (17.6 Fahrenheit).

The intense barrage and the launch of the nuclear-capable Oreshnik missile followed reports of major progress in talks between Ukraine and its allies on how to defend the country from further aggression by Moscow if a U.S.-led peace deal is struck.

Ukrainian President Volodymyr Zelenskyy said Saturday in his nightly address that Ukrainian negotiators “continue to communicate with the American side.”

Chief negotiator Rustem Umerov was in contact with U.S. partners on Saturday, he said.

Separately, Ukraine’s General Staff said Russia targeted Ukraine with 154 drones overnight into Sunday and 125 were shot down.

The Ukrainian Defense Ministry’s main intelligence directorate said Sunday that Russia this month deployed the new jet-powered “Geran-5” strike drone against Ukraine for the first time. The Geran is a Russian variant of the Iranian-designed Shahed.

According to the directorate, the drone can carry a 90-kilogram (200-pound) warhead and has a range of nearly 1,000 kilometers (620 miles).

Follow the AP’s coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine

This photo provided by the Ukrainian Security Service on Friday, Jan. 9, 2026, shows a fragment believed to be a part of a Russian Oreshnik intermediate range hypersonic ballistic missile that hit the Lviv region. (Ukrainian Security Service via AP)

President of Ukraine Volodymyr Zelenskyy, second left, listens to British Defense Secretary John Healey during their meeting in Kyiv, Ukraine, Friday, Jan. 9, 2026. (AP Photo/Danylo Antoniuk)