Published March 8, 2016 4:09pm EST | Updated March 8, 2016 9:04pm EST

Yum Brands Appoints Robert Walter Non-exec Chairman

Yum Brands Inc. said late Tuesday its board appointed Robert Walter as non-executive chairman, effective May 20. Walter will succeed David Novak, who announced his plan to step down as chairman in January. Novak had retired as Yum's chief executive in January 2015. Yum shares were flat at $76.68 after hours.