LOUISVILLE, Ky. – Sam Su, 58, has been promoted to chairman and chief executive officer for Yum! Brands China division and maintains his position as vice chairman, Yum! Brands, Board of Directors. Mr. Su was previously president of Yum! China Division.
“Sam Su is a world-class pioneer achieving breakthrough results for Yum!” Brands in China and is absolutely committed to driving long-term success,” said David Novak, Yum! Brands chairman and chief executive officer. “He has a solid track record of delivering outstanding performance in our China division, which has grown operating profit from $20 million in 1998 to $600 million in 2009. Sam and his team have created sustainable, competitive advantages for us through a strategic focus on growth and innovation.”
Mark Chu was promoted from chief development officer to president and chief operating officer of Yum! China, reporting to Sam Su. “Mark has been instrumental in growing our restaurant base in China to nearly 3,500 restaurants, last year adding a record 509 new units in Mainland China,” Mr. Novak said.
Mr. Chu will have oversight of all the Brand teams for the China Division as well as the Restaurant Excellence and Franchise Development functions, while maintaining his oversight of the Development and Construction teams.
Yum! China Division operates in more than 650 mainland China cities, with 3,544 restaurants including 2,950 KFC restaurants, 467 Pizza Hut casual dining restaurants and 102 Pizza Hut Home Service units. It also has created and is testing East Dawning, a quick-service restaurant concept serving Chinese food.
The company also has purchased interest in Little Sheep, leader in the ‘hot pot’ restaurant category primarily in China. In 2009, the company opened a record 509 new units, nearly one KFC every day. The company outpaces its nearest competitor, McDonald’s, by more than 1,000 restaurants in China and is outpacing their development by a roughly 3:1 pace.
According to recent studies, the middle class in mainland China has more than 300 million people, creating significant long-term demand for the company’s brands and rapid new unit development.