LOUISVILLE, Ky. — David Gibbs has been elevated to the role of president and chief operating officer at Yum! Brands, Inc. A 29-year veteran of the company, Gibbs has been president and chief financial officer for the past two years. In his expanded role, he will assume operating leadership of the global KFC Division and the US and international businesses of Pizza Hut and Taco Bell. Gibbs will retain his current responsibilities as CFO while the company searches for a successor.

“David is an extraordinarily talented commercial leader with a strong track record of results and deep experience in all three of Yum!’s global brands,” said Greg Creed, CEO of Yum! Brands, Inc. “He has been an invaluable strategic partner to me during a pivotal time for Yum! Brands, from the 2016 spin-off of the China business to driving the franchise operating, restaurant development and financial strategies that are reshaping KFC, Pizza Hut and Taco Bell into more focused, franchised and efficient businesses.

“As we enter the last year of our three-year transformation, the Yum! Brands board of directors and I are confident David’s expanded leadership will continue to shape the next wave of growth as we strive to build the world’s most loved, trusted and fastest-growing restaurant brands.”

Since joining Yum! Brands in 1989, Gibbs has held leadership roles at all three of the company’s brands in global strategy, finance, general management, operations and real estate. Prior to his appointment as president and CFO, he was CEO of the global Pizza Hut Division and president and CFO of Yum! Restaurants International. He also was Yum! chief strategy officer and CFO of Pizza Hut US.

“I’m grateful for the opportunity to lead Yum! Brands in an expanded capacity, and look forward to partnering with Greg, our global leadership team and our franchisees,” Gibbs said. “The transformation we started in 2016 is already making Yum! Brands a stronger company, franchisor and investment. We’ve achieved our stated goal of 98 percent of our restaurants being owned and operated by franchisees by the end of 2018 and are on track to deliver on our commitments for the transformation. With three category-leading brands, a uniquely diversified global business and more than 48,000 restaurants, Yum! is well positioned to accelerate growth and improve franchise unit economics by leveraging our massive scale and expanding our digital technology and delivery capabilities.”