Yum China Holdings, Inc. (NYSE:YUMC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

As previously announced, and as disclosed on a Current Report on Form 8-K dated April 20, 2017, Mr. Edwin “Ted” Stedem notified Yum China Holdings, Inc. (the “Company”) that he intends to resign as Chief Financial Officer of the Company, effective June 1, 2017. Also, as previously disclosed, the Board appointed Mr. Jacky Lo, the Company’s Vice President, Controller and principal accounting officer, as its interim Chief Financial Officer, effective June 1, 2017.

At its meeting on April 27, 2017, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) approved the payment of a pro rata 2017 annual cash bonus to Mr. Stedem, for his period of service from January 1, 2017 to June 1, 2017, subject to the achievement of at least target Company performance for 2017. Any payment will be on the same terms and at the same time as annual bonuses are payable to the Company’s other executive officers.  The Compensation Committee also approved the reimbursement of air travel for Mr. Stedem and his family to the United States and certain relocation expenses in connection with Mr. Stedem’s relocation to the United States.  In consideration for such payments, Mr. Stedem will be bound by certain confidentiality, non-disparagement, non-solicitation and non-competition covenants.  

In addition, the Compensation Committee approved an additional cash payment of HK$ 78,000 per month to Mr. Lo for the duration of his service as the Company’s interim Chief Financial Officer.

About Yum China Holdings, Inc. (NYSE:YUMC)
Yum China Holdings, Inc. is a restaurant company with approximately 7,200 restaurants. The Company’s restaurant base consists of restaurant brands, including KFC, Pizza Hut Casual Dining, Pizza Hut Home Service, East Dawning and Little Sheep. The Company’s segments are KFC, Pizza Hut Casual Dining and All Other Segments, which include Pizza Hut Home Service, East Dawning and Little Sheep. KFC is the Quick-Service Restaurant (QSR) brand in China. In addition to original recipe chicken, KFC in China has a menu featuring pork, beef, seafood, rice dishes, fresh vegetables, soups, breakfast, desserts, and many other products, including coffee. Pizza Hut Casual Dining is the Casual Dining Restaurant (CDR) brand. Little Sheep is a casual-dining brand. Little Sheep specializes in Hot Pot cooking. East Dawning is a Chinese food quick-service restaurant brand, primarily located in coastal cities. As of December 31, 2015, KFC operates over 5,000 restaurants in over 1,100 cities across China. Yum China Holdings, Inc. (NYSE:YUMC) Recent Trading Information
Yum China Holdings, Inc. (NYSE:YUMC) closed its last trading session up +0.21 at 34.78 with 1,940,774 shares trading hands.