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Investing.com -- David Gibbs, Chief Executive Officer of Yum Brands, the parent company of KFC, has announced his intention to retire next year.
Gibbs informed the Yum Brands board of his decision on Monday.
Gibbs has had a long-standing career with the company, having joined in 1989 as an executive for Taco Bell, another brand under the Yum Brands umbrella. He then stepped into the role of CEO in January 2020.
In response to this announcement, the board has set up a succession planning committee. This group’s task is to identify and appoint the next CEO of the company.
Gibbs will continue to hold his position as CEO and lead the company during the search for his successor. His retirement is scheduled for the first quarter of 2026.
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