Yum! Brands Announces Leadership Transition: CEO David Gibbs to Retire in 2026
Yum! Brands, Inc. (NYSE: YUM), the global powerhouse behind KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill, has announced that its Chief Executive Officer, David Gibbs, has informed the Board of Directors of his decision to retire from the company in the first quarter of 2026. This transition marks the conclusion of a distinguished career spanning 36 years at Yum! Brands, including a highly impactful tenure as CEO since January 2020.
Succession Planning and Search for the Next CEO
In response to Gibbs’ planned retirement, the Board of Directors has initiated a formal succession planning process. A dedicated committee will work diligently to identify and appoint a new CEO who will continue to drive the company’s growth and innovation. Until the selection and appointment of the next leader, Gibbs will continue to oversee operations and strategic initiatives, ensuring a smooth transition. The Board is committed to finding a candidate who aligns with Yum! Brands’ core values, growth strategies, and commitment to operational excellence.
Brian Cornell, Non-Executive Chairman of the Yum! Brands Board of Directors and Chairman and CEO of Target Corporation, expressed his gratitude for Gibbs’ service, stating:
“Along with the entire Board of Directors, I commend David for his dedication to Yum! Brands and applaud his transformative impact on the company – not just in his time as CEO, but throughout the entirety of his nearly four-decade career with Yum! Brands. The Board is committed to overseeing a thorough succession planning process and appreciates David’s continued leadership of the business as well as the ample timeline provided to ensure a seamless leadership transition.”
David Gibbs’ Leadership and Contributions
Since stepping into the role of CEO in January 2020, David Gibbs has led Yum! Brands through a period of significant transformation, resilience, and sustained growth. His leadership has been instrumental in driving digital innovation, accelerating new restaurant development, and reinforcing the company’s people-first culture. Under his guidance, Yum! Brands has successfully navigated industry challenges, including the COVID-19 pandemic, supply chain disruptions, and changing consumer behaviors.
Gibbs shared his reflections on his tenure and the company’s progress:
“During my time as CEO and throughout my 36 years with Yum! Brands, it has been an honor to work alongside this incredibly talented team and our dedicated franchisees to build the most loved, trusted, and connected restaurant brands around the world. I set out to strengthen and broaden the appeal of our iconic brands, build industry-leading digital capabilities, dramatically accelerate the pace of profitable new unit development, and amplify our people-first culture. I am pleased with the progress we have made on all fronts and know that Yum! Brands is now stronger and more resilient than ever. I look forward to supporting the next CEO candidate and ensuring the company is set up for continued success. In the meantime, my focus remains on executing our strategy and delivering against our growth commitments.”
Key Achievements Under Gibbs’ Leadership
- Digital Transformation:
- Under Gibbs’ leadership, Yum! Brands has made significant advancements in digital innovation, with digital sales surpassing $30 billion in 2024.
- More than 50% of total sales now come from digital channels, positioning the company at the forefront of technology-driven consumer engagement in the restaurant industry.
- Expansion and Unit Growth:
- Yum! Brands has tripled its annual net new unit development rate under Gibbs’ leadership, bringing the company’s global presence to more than 61,000 restaurant units worldwide.
- This expansion has strengthened the brand’s presence in key international markets, fueling sustainable long-term growth.
- Navigating the COVID-19 Pandemic:
- Gibbs played a pivotal role in guiding the company through one of the most challenging periods in the restaurant industry’s history.
- His strategic leadership helped Yum! Brands remain resilient, adapt to evolving consumer needs, and emerge stronger post-pandemic.
- Commitment to Culture and People-First Approach:
- Throughout his tenure, Gibbs has emphasized fostering an inclusive, high-performance culture that empowers employees and franchisees.
- His leadership has strengthened Yum! Brands’ reputation as an employer of choice and a company dedicated to social responsibility.
The Future of Yum! Brands
With a strong foundation in place, Yum! Brands is well-positioned for its next phase of growth. The company’s global footprint, commitment to innovation, and robust franchise system continue to drive sustained success. The Board’s selection of a new CEO will be a critical step in maintaining this momentum while further evolving the business in an increasingly digital and competitive landscape.
As Yum! Brands moves forward, the company remains dedicated to:
- Expanding digital ordering, delivery, and loyalty programs to enhance customer convenience.
- Strengthening franchise partnerships and accelerating global restaurant growth.
- Advancing sustainability initiatives and corporate responsibility efforts.
- Innovating menu offerings and improving customer experiences across its brands.
About Yum! Brands
Headquartered in Louisville, Kentucky, Yum! Brands, Inc. is one of the world’s largest restaurant companies, with a portfolio that includes KFC, Taco Bell, Pizza Hut, and Habit Burger & Grill. With over 61,000 restaurants in more than 155 countries and territories, Yum! Brands continues to lead in the quick-service restaurant (QSR) industry.
Recognitions and Achievements:
- Named to the Dow Jones Sustainability Index North America.
- Included in Newsweek’s list of America’s Most Responsible Companies.
- Recognized on USA Today’s America’s Climate Leaders list.
- Featured in 3BL’s list of 100 Best Corporate Citizens.
- Ranked among TIME magazine’s Best Companies for Future Leaders (2025).
- KFC, Taco Bell, and Pizza Hut secured top positions in Entrepreneur’s Top Global Franchises 2024 list.
- Taco Bell ranked No. 1 in North America for the fifth consecutive year in Entrepreneur’s 2025 Franchise 500 ranking.
As the company embarks on this leadership transition, Yum! Brands remains committed to delivering long-term value to shareholders, franchisees, employees, and customers worldwide.
