YUM! BRANDS, INC. (NYSE:YUM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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YUM! BRANDS, INC. (NYSE:YUM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

YUM! BRANDS, INC. (NYSE:YUM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Yum! Brands, Inc. (the “Company”) has appointed David Gibbs, currently its President and Chief Financial Officer, to the additional role of Chief Operating Officer, effective January 25, 2019. Mr. Gibbs, 55, has served as President and Chief Financial Officer of the Company since May 2016. Mr. Gibbs’s prior positions with the Company and its subsidiaries have included Chief Executive Officer of the Company’s Pizza Hut Division (January 2015 to May 2016), President of Pizza Hut U.S. (January 2014 to December 2014), President and Chief Financial Officer of Yum! Restaurants International, Inc. (May 2012 through December 2013). In connection with his appointment, Mr. Gibbs will receive a restricted stock unit grant which will have a grant date value of $5 million and a scheduled vesting date of February 11, 2024.

About YUM! BRANDS, INC. (NYSE:YUM)

YUM! Brands, Inc. (YUM) is engaged in restaurant business. The Company develops, operates, franchises and licenses an across the world system of restaurants, which prepare, package and sell a menu of food items, primarily through the three concepts of KFC, Pizza Hut and Taco Bell (the Concepts). YUM’s segments include The KFC Division, which includes all operations of the KFC concept outside of China Division; The Pizza Hut Division, which includes all operations of the Pizza Hut concept outside of China Division, and the Taco Bell Division, which includes all operations of the Taco Bell concept. As of September 3, 2016, the Company had approximately 43,000 restaurants in 135 countries and territories, through the concepts of KFC, Pizza Hut and Taco Bell. The Company’s concepts are focused on the chicken, pizza and Mexican-style food categories, respectively.