David Gibbs will become the next CEO of Yum! Brands, overseeing and growing, the chain's core stores KFC, Pizza Hut and Taco Bell.
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Gibbs is a veteran of the company and takes over from another veteran Greg Creed who is retiring after 25 years. The transition is effective on January 1, 2020.
FOX Business takes a look at Gibb's restaurant resume and what priorities he may serve up for the global restaurant chain that has 48,000 shops in 145 countries making it the largest restaurant chain by store count on the planet.
Yum! Brands Veteran
Gibbs has logged 30 years at the company joining in 1989. He has held a variety of roles, most recently as President and Chief Operating Officer. He also has held separate leadership roles in the company's three brands; KFC, Pizza Hut and Taco Bell over the years. Gibbs is 55 years old.
KFC, Pizza Hut, Taco Bell Claim to Fame
Gibbs put a stamp on Yum! and each of the brands he helped lead, according to the company.
At Yum! As Chief Strategy Officer he revamped the global restaurant operations model. As Pizza Hut's U.S. CFO he focused on real estate and restaurant development. And he helped all brands, including Taco Bell, expand outside the U.S. and in China. That skill comes at a key time with the U.S.and China attempting to smooth out trade relations between the two nations.
Gibbs will inherit managing the relationship with Yum China Holdings the spinoff of the company's China operations initially led by outgoing CEO Greg Creed. The company is separately traded and headquartered in Shanghai.
|YUMC||YUM CHINA HOLDINGS INC||53.16||-1.09||-2.02%|
GrubHub Deal Focuses on Delivery
In 2018, Yum! plunked down $200 million for a stake in delivery company GrubHub. According to the companies, the "partnership is to drive incremental sales to KFC and Taco Bell restaurants in the U.S. through online ordering for pickup and delivery."
On Monday, Gibbs told The Wall Street Journal that he didn’t rule out attempts to purchase more fast-food brands, though said he currently aims to grow Yum with its three current chains.
Company Franchisees Will Help Fuel Growth
Gibbs, in accepting his new role, gave a shout out to the company's massive network of franchisees. "Everywhere we operate, we need to continue elevating and investing in a world-class customer experience, with unrivaled talent, modern assets, the best operations, and innovative technology. This effort is only achievable through a strong partnership with our more than 2,000 franchisees who run 98 percent of our restaurants globally and employ more than 1.5 million restaurant team members who work for our brands around the world" he said in the company statement.